22/11/2017

0:00:05 > 0:00:11This is BBC News - I'm Jane Hill at Westminster

0:00:11 > 0:00:13where the Chancellor has delivered his Budget,

0:00:13 > 0:00:16with money for housing, the NHS and Brexit preparations.

0:00:16 > 0:00:18Mr Hammond said he'd prepared a balanced budget

0:00:18 > 0:00:20which was "full of change, full of challenges and full

0:00:20 > 0:00:26of new opportunities".

0:00:26 > 0:00:30I report today on an economy that continues to grow, continues to

0:00:30 > 0:00:34create more jobs than ever before and continues to confound those who

0:00:34 > 0:00:39seek to talk it down. They call this a Budget fit for the

0:00:39 > 0:00:47future. The reality is this is a government no longer fit for office.

0:00:47 > 0:00:49Growth forecasts for the UK are substantially downgraded

0:00:49 > 0:00:53with output expected to be lower over the coming years.

0:00:53 > 0:00:55On housing, Stamp Duty for all first-time buyers in England

0:00:55 > 0:00:57and Wales will be scrapped immediately for purchases

0:00:57 > 0:01:01up to £300,000.

0:01:01 > 0:01:03Under pressure from Labour on Universal Credit -

0:01:03 > 0:01:06Mr Hammond delivered a £1.5 billion package to cut the waiting

0:01:06 > 0:01:11time for payments.

0:01:11 > 0:01:14The NHS in England will receive an extra £2.8 billion by 2020

0:01:14 > 0:01:16with £350 million provided immediately to allow trusts

0:01:16 > 0:01:22to plan for the winter.

0:01:22 > 0:01:25The tax on tobacco continues to rise but there's a freeze on wine,

0:01:25 > 0:01:28cider and spirits and the fuel duty rise for both petrol

0:01:28 > 0:01:36and diesel is cancelled.

0:01:56 > 0:02:00Good afternoon from Westminster where the Chancellor,

0:02:00 > 0:02:03Philip Hammond, has delivered a Budget which he said would make

0:02:03 > 0:02:05the UK "fit for the future" as an "outward looking,

0:02:05 > 0:02:08free-trading nation" once it leaves the European Union.

0:02:08 > 0:02:16But he had to announce dramatically downgraded growth forecasts for next

0:02:16 > 0:02:23five years from a previously announced 2% this year, to 1.5%.

0:02:23 > 0:02:26He told the Commons that an extra £3 billion will be set aside

0:02:26 > 0:02:28over the next two years to prepare for Brexit.

0:02:28 > 0:02:30The Labour leader Jeremy Corbyn said the Chancellor's statement

0:02:30 > 0:02:35was a "record of failure with a forecast of more to come".

0:02:35 > 0:02:38Let's take a look at some of the main measures in today's Budget.

0:02:38 > 0:02:43On housing, there was good news for people in England and Wales

0:02:43 > 0:02:49wanting to purchase their first home with news that Stamp Duty

0:02:49 > 0:02:51for first-time buyer purchases up to £300,000

0:02:51 > 0:02:53is to be abolished immediately.

0:02:53 > 0:02:58The Chancellor promised at least £44 billion of capital funding,

0:02:58 > 0:03:02loans and guarantees over five years, to support house-building.

0:03:02 > 0:03:05He said the government would commit to a long-term goal to build 300,000

0:03:05 > 0:03:15new homes a year by the mid-2020s.

0:03:16 > 0:03:25The Chancellor bowed to pressure over Universal Credit with a £1.5

0:03:25 > 0:03:27billion package to cut the waiting period for payments -

0:03:27 > 0:03:29and make it easier for claimants to receive an advance.

0:03:29 > 0:03:31£2.8 billion will be provided in extra funding

0:03:31 > 0:03:34for the NHS in England - £350 million immediately to address

0:03:34 > 0:03:35pressures this winter.

0:03:35 > 0:03:38Mr Hammond also indicated that extra money could be available if the cap

0:03:38 > 0:03:39on NHS pay is lifted.

0:03:39 > 0:03:42Looking at the economy as a whole the Chancellor

0:03:42 > 0:03:44delivered some sobering news.

0:03:44 > 0:03:50Let's look at the detail.

0:03:50 > 0:03:52He said the independent Office for Budget Responsibility had

0:03:52 > 0:03:55downgraded its forecast for economic growth this year from 2% to 1.5%.

0:03:55 > 0:04:04He said that annual borrowing would be £49.9 billion

0:04:04 > 0:04:06in 2017-2018, lower than forecast in the spring Budget.

0:04:06 > 0:04:09And according to the OBR, government debt will peak this

0:04:09 > 0:04:16year at 86.5% of GDP - before falling to 86.4% next year.

0:04:16 > 0:04:18Forecasts suggest that it will continue to fall

0:04:18 > 0:04:24in subsequent years.

0:04:24 > 0:04:26That's the picture for the economy as a whole.

0:04:26 > 0:04:28Much more discussion on that throughout the afternoon

0:04:28 > 0:04:32here at Westminster.

0:04:32 > 0:04:35Let's also take a look now at some of the measures announced.

0:04:35 > 0:04:37There was good news for motorists as the Chancellor announced

0:04:37 > 0:04:40that the annual rise in duty on petrol and diesel

0:04:40 > 0:04:41will be cancelled.

0:04:41 > 0:04:48Not such good news for smokers as tobacco products will continue

0:04:48 > 0:04:50to rise at inflation plus 2%.

0:04:50 > 0:04:52For drinkers, duty on beer, wine, spirits and most

0:04:52 > 0:04:56ciders will be frozen.

0:04:56 > 0:04:58But duty on high-strength white ciders will be increased

0:04:58 > 0:05:05through new legislation.

0:05:05 > 0:05:06And as predicted, railcards offering discounted train travel

0:05:06 > 0:05:09will be extended to people up to 30-years-old.

0:05:09 > 0:05:19Our Political Correspondent Leila Nathoo has this report.

0:05:29 > 0:05:33Are you boxed in, Chancellor?He has been under pressure, but the

0:05:33 > 0:05:37Chancellor this morning was putting on a brave face.Any tricks in your

0:05:37 > 0:05:42red box?Preparing to set out the journey ahead for the Government's

0:05:42 > 0:05:47tax and spending plans, Brexit looms large. There is not much cash in the

0:05:47 > 0:05:51kitty and there have been demands from some of his Conservative

0:05:51 > 0:05:55colleagues for a big and bold Budget to lift the party's post election

0:05:55 > 0:06:00gloom. In the Commons, as the Chancellor waited to deliver his

0:06:00 > 0:06:03statement, the Prime Minister insisted her government was putting

0:06:03 > 0:06:10the country first. I'm optimistic about our future. I'm

0:06:10 > 0:06:14optimistic about the success we can make of Brexit. I'm optimistic about

0:06:14 > 0:06:17the well paid jobs that will be created. I'm optimistic about the

0:06:17 > 0:06:21homes we will build. That's Conservatives, building a Britain

0:06:21 > 0:06:26fit for the future. I call the Chancellor of the

0:06:26 > 0:06:31Exchequer, Philip Hammond. Then it was Philip Hammond's turn at

0:06:31 > 0:06:35the dispatch box to set out his strategy. Insisting the Government

0:06:35 > 0:06:40had been listening.We understand the frustration of families where

0:06:40 > 0:06:45real incomes are under pressure. So at this Budget, we choose a balanced

0:06:45 > 0:06:51approach. Yes, maintaining fiscal responsibility as we at last see our

0:06:51 > 0:06:57debt peaking. Continuing to invest in the skills and infrastructure

0:06:57 > 0:07:02that will support the jobs of the future. Building the homes that will

0:07:02 > 0:07:07make good on our promise to the next generation. But crucially, also,

0:07:07 > 0:07:12helping families to cope with the cost of living.Despite his jovial

0:07:12 > 0:07:16tone, the Chancellor revealed that the economy was now forecast to grow

0:07:16 > 0:07:21far slower than previously expected, but there was big talk on housing

0:07:21 > 0:07:27aimed at young people.With effect from today, for all first time buyer

0:07:27 > 0:07:33purchases up to £300,000, I am abolishing stamp duty altogether.

0:07:33 > 0:07:40And to make sure as many as possible benefit...To ensure this relief

0:07:40 > 0:07:44helps first-time buyers in very high price areas like London, it will

0:07:44 > 0:07:50also be available on the first £300,000 of the purchase price of

0:07:50 > 0:07:57properties up to £500,000. Philip Hammond announced changes to

0:07:57 > 0:08:00Universal Credit following intense political pressure, promising

0:08:00 > 0:08:03additional funding to cut waiting times for the payment and to make it

0:08:03 > 0:08:07quicker to claim an advance. There will be an extra £2.8 billion for

0:08:07 > 0:08:13the NHS in England and more cash for schools which boost their numbers of

0:08:13 > 0:08:22maths students plus with plans to be at the fore front of tech. Labour

0:08:22 > 0:08:25has attacked the Budget calling it a record of failure with a forecast of

0:08:25 > 0:08:29more to come.People were looking for help from this Budget and they

0:08:29 > 0:08:35have been let down. Let down by a government that like the economy

0:08:35 > 0:08:39they presided over is weak and unstable and in need of urgent

0:08:39 > 0:08:46change. They call this a Budget fit for the future. The reality is this

0:08:46 > 0:08:50is a government no longer fit for office.

0:08:50 > 0:08:55This was a measured Budget. No fireworks, no slip-ups, the

0:08:55 > 0:08:58Chancellor will hope he has done enough to convince the country and

0:08:58 > 0:09:02his own colleagues that he is the right man to remain in charge of the

0:09:02 > 0:09:06economy.

0:09:06 > 0:09:12I'm joined by Paul Johnson, Director of the Institute for Fiscal Studies.

0:09:12 > 0:09:16Joining me at a blustery Westminster. We heard that little

0:09:16 > 0:09:20piece of Philip Hammond at the beginning of the hour saying,

0:09:20 > 0:09:25"Growth continues." But when you look at what is to come in future

0:09:25 > 0:09:29years, the picture is not so healthy, Paul?Well, the forecast is

0:09:29 > 0:09:32for growth which is better than the reverse, but it's for a lot less

0:09:32 > 0:09:38growth than we were hoping for back in March. It is dramatic downgrade

0:09:38 > 0:09:42in forecast growth so back in March the OBR, the official watchdog was

0:09:42 > 0:09:47saying we will get growth back to 2% a year within two or three years and

0:09:47 > 0:09:51now it is struggling back to 1.5% a year and that's a big difference and

0:09:51 > 0:09:53one of the reasons why the Chancellor wasn't able to do much

0:09:53 > 0:09:57because he had no money to play with.Yes, if the forecasts are

0:09:57 > 0:09:59accurate then that continues for several years to come?Well, it

0:09:59 > 0:10:02looks like it might and the underlying thing here is the

0:10:02 > 0:10:05productivity problem and if you look at the figures here, it is something

0:10:05 > 0:10:08we're not going to get a pay rise for another two years at least

0:10:08 > 0:10:12because productivity is doing badly and growth is doing badly and

0:10:12 > 0:10:15earnings aren't rising and since about a year ago, earnings have

0:10:15 > 0:10:20started to fall again, relative to prices and it doesn't look like

0:10:20 > 0:10:24they're going to pick up again for another couple of years.There has

0:10:24 > 0:10:28been a lot of focus on housing. The issue of intergenerational fairness

0:10:28 > 0:10:33and young people not being able to get on the housing ladder. Can we

0:10:33 > 0:10:37pick through the announcement for stamp duty. No stamp duty for

0:10:37 > 0:10:42first-time buyers if they are buying a property up to £300,000. Very

0:10:42 > 0:10:47interesting though again when you look at what the longer term impact

0:10:47 > 0:10:50of that measure could be?In the long run, if you get rid of all

0:10:50 > 0:10:54stamp duty then the impact is clearly to increase house prices. It

0:10:54 > 0:10:59would be a good thing to do because stamp duty gums up the housing

0:10:59 > 0:11:03market. Now, what the Chancellor is doing is just getting rid of it for

0:11:03 > 0:11:07first-time buyers so that would have an less effect on house prices and

0:11:07 > 0:11:12it will make first-time buyers in a better position relative to second

0:11:12 > 0:11:17time and subsequent buyers, but if you reduce the stamp duty then it

0:11:17 > 0:11:22will have some impact on house prices, exactly how much when you do

0:11:22 > 0:11:27it for this group is hard to know. When one extrapolates over the

0:11:27 > 0:11:30longer term, the concern is the people who benefit are the people

0:11:30 > 0:11:33who are already homeowners, the person selling their house benefits

0:11:33 > 0:11:38if prices are going up. So in the long run you are not really helping

0:11:38 > 0:11:42first-time buyers much? In the immediate future you might be?

0:11:42 > 0:11:48Because this is just for one group of buyers, exactly what the impact

0:11:48 > 0:11:51on house prices will be, we don't know, but it will certainly increase

0:11:51 > 0:11:55house prices to some extent and therefore, benefit those who are

0:11:55 > 0:11:58selling their house. That doesn't mean it is a bad change because

0:11:58 > 0:12:03stamp duty really does get in the way of the housing market working,

0:12:03 > 0:12:07but it's not an obvious, it's not the obvious long-term benefit to

0:12:07 > 0:12:13buyers that it might first at first sight seem.And the promise of money

0:12:13 > 0:12:19that we have seen, certain sums for the NHS, some immediate and some for

0:12:19 > 0:12:22capital expenditure, given the picture that you are painting and

0:12:22 > 0:12:25all the forecasts that we're looking at today, there might be people

0:12:25 > 0:12:29watching this this afternoon thinking, "Where is that money for

0:12:29 > 0:12:35the NHS actually coming from?" Is it clear?Two things. The amount of

0:12:35 > 0:12:37spending, the Chancellor was promising the NHS was not

0:12:37 > 0:12:42particularly big. This will still be a tough few years for health. But

0:12:42 > 0:12:45secondly, it is clear where it's coming from. We're going to be

0:12:45 > 0:12:50borrowing more. So whereas just over a year ago, Chancellor Osborne was

0:12:50 > 0:12:55promising us a surplus by 2019, we're now going to be borrowing

0:12:55 > 0:13:01about £35 billion in 2019. So a very big turn around and actually between

0:13:01 > 0:13:06just last March's Budget, a big increase in borrowing since then.

0:13:06 > 0:13:09So, the Chancellor has just decided to borrow more than he was going to

0:13:09 > 0:13:13borrow. It is just about within the rules that he set himself. What he

0:13:13 > 0:13:18hasn't got much wiggle room left. Fiscal rules, that famous phrase, do

0:13:18 > 0:13:21you think politicians regret having the rules given that we are where we

0:13:21 > 0:13:25are?They don't mind breaking them! We have had a lot of them and most

0:13:25 > 0:13:28of them have been broken. The Chancellor says he is on course to

0:13:28 > 0:13:32meet the ones that he has got. But another downgrade in the growth

0:13:32 > 0:13:36forecast. Something goes wrong around Brexit and we will be

0:13:36 > 0:13:42breaking them pretty quickly. He also wants to, we have had yet

0:13:42 > 0:13:46another statement about when we are going to get that famous budget

0:13:46 > 0:13:50balance. That looks tough and unlikely to me now I have to say.

0:13:50 > 0:13:54OK, always good to hear your analysis, Paul Johnson from the

0:13:54 > 0:13:56Institute for Fiscal Studies.

0:13:56 > 0:13:59Our Chief Political correspondent Vicki Young is in the Central Lobby

0:13:59 > 0:14:04of the House of Commons for us.

0:14:04 > 0:14:08Yes, always a day when the House of Commons is completely packed with

0:14:08 > 0:14:11MPs, listening to what the Chancellor has to say and then, of

0:14:11 > 0:14:14course, trying to analyse what it all means. Let's discuss this

0:14:14 > 0:14:23further. I am joined by some politicians. First of all, the move

0:14:23 > 0:14:26on Universal Credit, something Labour have been calling for

0:14:26 > 0:14:28presumably, you are pleased with that?It is really, really good

0:14:28 > 0:14:33news. I think it is disappointed that he has taken so long and so

0:14:33 > 0:14:36much energy goat to this point, but certainly some of the measures that

0:14:36 > 0:14:39are in there, it won't deal with all the issues, because I think there

0:14:39 > 0:14:43are fundamental problems with the system that need to be looked at,

0:14:43 > 0:14:46but it will alleviate some of the worst outcomes of the change over to

0:14:46 > 0:14:51Universal Credit. For you p what was the most striking

0:14:51 > 0:14:55thing that you heard the Chancellor say today?For me this was a Budget

0:14:55 > 0:15:00about the Brexit bite and the productivity, growth outlooks have

0:15:00 > 0:15:05been downgraded. We are going to be £45 billion worse off as a nation by

0:15:05 > 0:15:092021. It is money that should be going into public services and I was

0:15:09 > 0:15:13so disappointed to not hear that we weren't going to raise the public

0:15:13 > 0:15:18pay cap. Our teachers are desperate for a pay rise and our NHS workers

0:15:18 > 0:15:23and I think they will take the Budget as a slap in the face.Nicky

0:15:23 > 0:15:27Morgan, how do you think looking at this, the Government, your party, do

0:15:27 > 0:15:31you think they have given up on balancing the books?No, not at all.

0:15:31 > 0:15:35There is an ambition for the middle part of the next decade, but there

0:15:35 > 0:15:40is a recognition that more money is needed in the NHS and that actually

0:15:40 > 0:15:44people have made sacrifices over the last seven years so it is right to

0:15:44 > 0:15:48show flexibility. There is clearly a need for more investment in housing

0:15:48 > 0:15:52and I think what was good about the Budget was the fact we didn't hear

0:15:52 > 0:15:55Brexit mentioned all the time. It is like Groundhog Day in Parliament, so

0:15:55 > 0:15:59hearing about technology and plans for the future, about challenges to

0:15:59 > 0:16:05how we're going tackle the productivity puzzle and housing, the

0:16:05 > 0:16:09stamp duty duty change was welcome. What do you make of the NHS money?

0:16:09 > 0:16:15It is a lot that he has given to the NHS. He is responding to more calls

0:16:15 > 0:16:19for more money to the winter crisis and more money for investment in

0:16:19 > 0:16:23infrastructure?Nicky is right, Brexit wasn't mentioned a great

0:16:23 > 0:16:27deal, but what was mentioned the cripingly slow growth in the

0:16:27 > 0:16:31country. The fact that the OBR is expecting a far less investment from

0:16:31 > 0:16:36business to come in, that people's real wages are down, that their

0:16:36 > 0:16:40disposable income is down and personal debt is up. This is not a

0:16:40 > 0:16:42good picture after seven years of a Conservative Government and it is

0:16:42 > 0:16:46worth remembering that they might be looking to tackle the debt and the

0:16:46 > 0:16:50deficit over the next ten years, but they said it would be paid down by

0:16:50 > 0:16:55now and they have failed repeatedly to do that. When it comes to the

0:16:55 > 0:17:00NHS, the NHS England, Simon Stevens was looking for £4 billion worth of

0:17:00 > 0:17:05investment to stave off a winter crisis circumstances but deal with

0:17:05 > 0:17:11the long-term challenges around staffing making sure we can retain

0:17:11 > 0:17:14and train staff, but they are spending more on Brexit preparations

0:17:14 > 0:17:20than they are on the NHS which I just think is a real tragedy and the

0:17:20 > 0:17:25public sector pay cap that the NHS staff have been crying out for a pay

0:17:25 > 0:17:29rise and it was not announced today and that's disappointing.When it

0:17:29 > 0:17:33comes to housing, the holiday on stamp duty For first-time buyers. Is

0:17:33 > 0:17:36that something the Liberal Democrats are in favour of?We have always

0:17:36 > 0:17:41said the answer to this is partly house building and I was

0:17:41 > 0:17:45disappointed by actually the ambition of the Government for its

0:17:45 > 0:17:49own house building in particular, making sure that we have got enough

0:17:49 > 0:17:52affordable and social housing. That was missing. What I wanted to see

0:17:52 > 0:17:56was borrowing by government at record low levels right now so that

0:17:56 > 0:18:00the Government themselves build. In Oxfordshire, they announced £150

0:18:00 > 0:18:02million to help with the infrastructure. What we have

0:18:02 > 0:18:06estimated is in fact if we are going to do 100,000 homes, we're going to

0:18:06 > 0:18:10need three times that investment. It's nowhere near enough and my

0:18:10 > 0:18:14local residents won't be happy with what they have seen in the Budget.

0:18:14 > 0:18:19Isn't there a problem with the stamp duty policy because the OBR have

0:18:19 > 0:18:22said all it does is push up house prices so it is the seller, the

0:18:22 > 0:18:27person who is on the property ladder who gains by this sthWe will take

0:18:27 > 0:18:31evidence in the Select Committee from the OBR next week and ask them

0:18:31 > 0:18:33about what exactly what they are saying in their report, but I think

0:18:33 > 0:18:36the important thing is getting the housing market moving and it is

0:18:36 > 0:18:40about getting young people on the housing ladder and the dream of home

0:18:40 > 0:18:46ownership and I think actually it is an important step to making housing

0:18:46 > 0:18:50more affordable for those who have got to save for a deposit, about the

0:18:50 > 0:18:55stamp duty on top. Housing is important for people's stake in

0:18:55 > 0:19:01society, but so is renting. Philip Hammond said he wanted to look at

0:19:01 > 0:19:06longer tenancies which is important. Look, we have put more than £10

0:19:06 > 0:19:10billion into the NHS already. Today wag building on that. More money

0:19:10 > 0:19:13that the NHS asked for, but I have firm views about Brexit, but at the

0:19:13 > 0:19:18end of the day, if it's going to happen, we have got to make sure we

0:19:18 > 0:19:22are preparing for it.In one sentence, has Philip Hammond done

0:19:22 > 0:19:26enough to save his job?I don't think his job should have been under

0:19:26 > 0:19:30threat anyway.Nicky Morgan, thank you very much. The headlines will be

0:19:30 > 0:19:34about housing and of course, about Brexit.

0:19:34 > 0:19:42Thank you very much. The Chancellor said that getting on

0:19:42 > 0:19:45the housing lad are shouldn't be a dream for young people, but should

0:19:45 > 0:19:52be a reality. As we been discussing, stamp duty for all first-time buyers

0:19:52 > 0:19:58is to be abolished for any property up to £300,000.By continuing to

0:19:58 > 0:20:02invest in Britain's infrastructure, skills and R & D, we will ensure the

0:20:02 > 0:20:06recovery in productivity growth that's the key to delivering our

0:20:06 > 0:20:10vision of a stronger, fairer, more balanced economy, and the assurance

0:20:10 > 0:20:14to the next generation of their economic security.

0:20:14 > 0:20:19But however successful we are in that endeavour, there is one area

0:20:19 > 0:20:22where young people today will rightly feel concerned about their

0:20:22 > 0:20:28future prospects and that is in the housing market. House prices are

0:20:28 > 0:20:31increasingly out of reach for many. It takes too long to save for a

0:20:31 > 0:20:39deposit. And rents absorb too high a portion of monthly income. So the

0:20:39 > 0:20:44number of 25 to 34-year-olds owning their own home has dropped from 59%

0:20:44 > 0:20:50to just 38% over the last 13 years. Put simply, successive governments

0:20:50 > 0:20:55over decades have failed to build enough homes to deliver the home

0:20:55 > 0:21:00owning dream that this country has always been proud of, or indeed to

0:21:00 > 0:21:05meet the needs of those who rent. In Manchester a few weeks ago, the

0:21:05 > 0:21:08Prime Minister made a pledge to Britain's younger generation that

0:21:08 > 0:21:14she would dedicate her premiership to fixing this problem and today we

0:21:14 > 0:21:19take the next steps to delivering on that pledge. By choosing to build.

0:21:19 > 0:21:25We send a message to the next generation, that getting on the

0:21:25 > 0:21:29housing ladder is not just a dream of your parents past, but a reality

0:21:29 > 0:21:33for your future.That was a large section of the point where Philip

0:21:33 > 0:21:40Hammond was talking about housing. We will talk more about that in the

0:21:40 > 0:21:44next few minutes because I will be talking to the Mayor of London. So

0:21:44 > 0:21:48we'll discuss that, but more broadly, let's talk about what the

0:21:48 > 0:21:50Budget might mean for different age groups. We thought there was going

0:21:50 > 0:21:55to be a lot in this about intergenerational inequality. Let's

0:21:55 > 0:21:59find out whether two people working in those fields feel much has been

0:21:59 > 0:22:13anonced for them this afternoon. Ann-Marie Lewis joins me.

0:22:13 > 0:22:17We will start with housing in the sense that we heard a bit of Philip

0:22:17 > 0:22:21Hammond talking about the stamp duty help at the bottom end. Is it fair

0:22:21 > 0:22:25to say that the sort of young people you're particularly helping, I mean,

0:22:25 > 0:22:29house buying at all, property buying is a pipe dream for them?

0:22:29 > 0:22:32Absolutely. And that's one of the things that we have been really

0:22:32 > 0:22:37concerned about because whilst that's a great initiative with

0:22:37 > 0:22:41abolishing stamp duty the young people we work with haven't got the

0:22:41 > 0:22:45deposit to begin that process. Most are in hostels. Most are homeless.

0:22:45 > 0:22:48So, in actual fact there is a lot of work that needs to be done before we

0:22:48 > 0:22:51get to that stage and I haven't heard much about that in today's

0:22:51 > 0:22:54Budget.You work around issues of homelessness in particular for

0:22:54 > 0:22:58example. I think there is a taskforce going to be around that.

0:22:58 > 0:23:03Did you hear anything that encouraged you in there regard?I

0:23:03 > 0:23:06mean a taskforce is great, but how that relates in real terms to our

0:23:06 > 0:23:11young people is really what I'm waiting to understand. We have had

0:23:11 > 0:23:14lots of task forces and audits around homelessness, but there is

0:23:14 > 0:23:17hundreds of thousands of young people sleeping rough on the streets

0:23:17 > 0:23:22every single day.And what could the Government have done more

0:23:22 > 0:23:25specifically that might have helped as far as your charity is concerned?

0:23:25 > 0:23:29Well, I think there has to be wider support around the funding and the

0:23:29 > 0:23:32resources not only to local authorities, but to the charity

0:23:32 > 0:23:36sector in general and overall to youth services. At the moment we

0:23:36 > 0:23:40have experienced over £300 million of cuts to youth services. That's

0:23:40 > 0:23:45603 youth centres. There is nearly 4,000 youth workers who assist young

0:23:45 > 0:23:48people on the streets, young people in different settings and they have

0:23:48 > 0:23:52lost their jobs. So, for us, there has to be a reversal of those cuts

0:23:52 > 0:23:55and there needs to be money put back into the infrastructure so that we

0:23:55 > 0:23:59can start to rebuild our centres again and you know, we have got

0:23:59 > 0:24:02100,000 young people that have lost youth places as a result of the cuts

0:24:02 > 0:24:10and it's set to get worse. Caroline, I feel as if we heard very

0:24:10 > 0:24:14little this lunch time that related to people certainly of retirement

0:24:14 > 0:24:19age. What did you take from this?I think I'm, maybe I missed it, but I

0:24:19 > 0:24:23didn't hear the words older people. I didn't hear the words pension, I

0:24:23 > 0:24:27didn't hear the words social care. That's the thing that worries us the

0:24:27 > 0:24:30most. Last week the Government announced there would be a Green

0:24:30 > 0:24:36Paper on social care, next summer, but we were hoping for some

0:24:36 > 0:24:40investment in social care. Knowing there is a paper in a year's time

0:24:40 > 0:24:44won't help them. We think it is a missed opportunity and

0:24:44 > 0:24:49short-sighted.There was some announcements around social care in

0:24:49 > 0:24:52March. It is your sense why it wasn't talked about today, the NHS

0:24:52 > 0:24:57was talked about, but not social care?The Government is making a

0:24:57 > 0:25:01mistake if it thinks the money it announced was then. The money

0:25:01 > 0:25:04announced for the NHS wasn't enough either. A growing older population

0:25:04 > 0:25:08is growing demand on the NHS. It was good to hear some more money for the

0:25:08 > 0:25:12NHS today, but all the experts said they needed double the amount that

0:25:12 > 0:25:20the Government is bringing forward. Do you, from an Age UK prospective

0:25:20 > 0:25:25feel this increased talk about intergenerational unfairness, is it

0:25:25 > 0:25:29valid? Do you accept that the Chancellor would say he is trying to

0:25:29 > 0:25:33look at younger people at the moment, that that is where the

0:25:33 > 0:25:37problem lies. We know plenty of young people are finding it so

0:25:37 > 0:25:41difficult to get on the housing ladder. Is that a fairness that, is

0:25:41 > 0:25:48that something he should have done, do you think?I think lots of older

0:25:48 > 0:25:51people, if they see there is more help for younger people, they will

0:25:51 > 0:25:55be pleased that their grandsons and granddaughters and the people living

0:25:55 > 0:25:58next door will get help. We live in communities and we want everyone to

0:25:58 > 0:26:04be getting on well. The things that my friend here was talking about in

0:26:04 > 0:26:08terms of problems with public services and charities apply just as

0:26:08 > 0:26:12much for young people.Some of that is tied around reduced funding to

0:26:12 > 0:26:17local authorities?Absolutely, yes. All right. Caroline and Ann-Marie,

0:26:17 > 0:26:29thank you. Picking up on the key themes that we

0:26:29 > 0:26:33heard from the Chancellor at lunch time. There has been a lot of focus

0:26:33 > 0:26:37on those announcements around housing. Already people trying to

0:26:37 > 0:26:43unpick just what that stamp duty move for first-time buyers might

0:26:43 > 0:26:48really mean. We will talk more about environmental policies as well

0:26:48 > 0:26:53because the Mayor of London, Sadiq Khan has joined me. We will start

0:26:53 > 0:26:56with housing because it is so pertinent to London and the South

0:26:56 > 0:26:59East, isn't it? We know about the difficulties of young people getting

0:26:59 > 0:27:03on the housing ladder. Do you welcome no stamp duty for a first

0:27:03 > 0:27:10time buyer, anything up to £300,000 a bigger sum in London?Well, I

0:27:10 > 0:27:14welcome any help to reduce the cost of buying a property in London, but

0:27:14 > 0:27:18the idea that this is enough to fix the housing crisis beggars belief.

0:27:18 > 0:27:24We need to be building far more homes in London, far more genuinely

0:27:24 > 0:27:29affordable homes and also we now know from reading the OBR it will

0:27:29 > 0:27:33lead to prices going up, further up the food chain. What the Government

0:27:33 > 0:27:39should have done today is to give financial support to councils and

0:27:39 > 0:27:42housing associations to build more homes in London from now. What they

0:27:42 > 0:27:46should have announced today was measures, not a review, but measures

0:27:46 > 0:27:52to make sure that we can deal with a situation where the landowners,

0:27:52 > 0:27:56developers who have permission and are sitting on that land. We should

0:27:56 > 0:28:00have had measures to help the Londoners who are aren'ting from

0:28:00 > 0:28:04private landlords and this demonstrates how out-of-touch the

0:28:04 > 0:28:07Government is with the needs of Londoners. We needed a step change

0:28:07 > 0:28:13and we got a drop in the ocean. There is to be a review and that's

0:28:13 > 0:28:17to be led by Oliver Letwin. Philip Hammond put a number on the amount

0:28:17 > 0:28:22of extra houses he wants to build, but the ambition is to do so by the

0:28:22 > 0:28:26mid-2020s, so it is a few years away. What's going on there from

0:28:26 > 0:28:31your prospective? Is it lack of money? Lack of ambition, what's that

0:28:31 > 0:28:37about? In20092010, the amount of money the Government spend on

0:28:37 > 0:28:40affordable homes was double. A simple thing the Chancellor could

0:28:40 > 0:28:46have done was to go back to 2009/2010 levels. The private sector

0:28:46 > 0:28:51by themselves will never build the am of homes that we need and so, the

0:28:51 > 0:28:56Chancellor today has confirmed that at his most ambitious by 2025,

0:28:56 > 0:29:03across the country, we will have 300,000 homes being built. In London

0:29:03 > 0:29:07alone, experts say we will need 66,000 homes from the from next

0:29:07 > 0:29:11year. We should have seen bold plans from the Chancellor. What we have

0:29:11 > 0:29:15got is none of that and I really worry about the confidence

0:29:15 > 0:29:18businesses will have knowing, no good news in relation to

0:29:18 > 0:29:22infrastructure for London. No good news in relation to the homes for

0:29:22 > 0:29:26workers who work in London and that lack of confidence at a time of

0:29:26 > 0:29:31Brexit is bad for London.Exactly. That's interesting. Is the country

0:29:31 > 0:29:35Brexit ready? Is London Brexit ready because there was an announcement of

0:29:35 > 0:29:39a sum, almost a cushion, if you like, in the lead up to Brexit, to

0:29:39 > 0:29:43the Brexit preparations he said? When I speak to Chief Executives,

0:29:43 > 0:29:47investors, businesses, they want to have confidence in our city's

0:29:47 > 0:29:50ability to meet their ambitions. One of the best ways of giving

0:29:50 > 0:29:54confidence to businesses is to say you know what, we're going to invest

0:29:54 > 0:29:59in infrastructure. We are going to give the green light to Crossrail 2

0:29:59 > 0:30:04and invest in river crossings, invest in transport links. None of

0:30:04 > 0:30:09that today, you as an investor, or businessman or woman are nervous

0:30:09 > 0:30:12about the future of our city. You want to know your staff can afford

0:30:12 > 0:30:16to live in a great city, but when you are told the only help you will

0:30:16 > 0:30:22get is a contribution towards a first time purchase doesn't go

0:30:22 > 0:30:25meeting your ambition as a business. You want to make sure that Londoners

0:30:25 > 0:30:28are skilled up to do the jobs of the future. Again, no real announcement

0:30:28 > 0:30:32there. I worry at a time when there is uncertainty, at a time when we

0:30:32 > 0:30:36are told by the EU, we are going down the road of an extreme hard

0:30:36 > 0:30:40Brexit because of the response this government, businesses will think,

0:30:40 > 0:30:45we are far better off going to Frankfurt or going to Berlin or

0:30:45 > 0:30:49Paris. This is not me talking down London, it is me being frustrated by

0:30:49 > 0:30:58the Budget today. This is the most anti-London Budget for a generation.

0:30:58 > 0:31:01anti-London Budget for a generation. Specifically because of Brexit?At a

0:31:01 > 0:31:01time

0:31:01 > 0:31:04Specifically because of Brexit?At a time where we have had four

0:31:04 > 0:31:11terrorist attacks in our city, no announcement of extra funding for

0:31:11 > 0:31:20the police in London. No new news in relation to building new homes in

0:31:20 > 0:31:23London. People have problems from dementia to heart disease because of

0:31:23 > 0:31:27the bad quality air, no news relating to fixing the air

0:31:27 > 0:31:34pollution. No real news in relation to investing in young Londoners.

0:31:34 > 0:31:39This was a chance for the Chancellor to have a big, bold budget. He has

0:31:39 > 0:31:43blown it.Sadiq Khan, thank you very much indeed. I would have loved a

0:31:43 > 0:31:48bit more time, we could have talked about the environmental issues as

0:31:48 > 0:31:53well. Continuing reaction to everything Philip Hammond announced

0:31:53 > 0:31:59at lunchtime. Much more reaction, for now just back to the studio.

0:31:59 > 0:32:01Much more from Westminster to come but for now,

0:32:01 > 0:32:02back to the studio.

0:32:02 > 0:32:05We'll be back in Westminster shortly but first some other news.

0:32:05 > 0:32:07The former Bosnian Serb army commander Ratko Mladic has been

0:32:07 > 0:32:10found guilty of genocide and crimes against humanity during the Bosnian

0:32:10 > 0:32:12war more than 20 years ago.

0:32:12 > 0:32:14The 74-year-old has been sentenced to life in prison

0:32:14 > 0:32:16by an international court at The Hague after a trial

0:32:16 > 0:32:20that has lasted six years.

0:32:20 > 0:32:22The judge said his crimes figured amongst the most heinous

0:32:22 > 0:32:23type known to humankind.

0:32:23 > 0:32:27From the Hague, Anna Holligan reports.

0:32:27 > 0:32:29Sit down, please.

0:32:29 > 0:32:32He was determined to go down fighting.

0:32:32 > 0:32:37Refusing to listen to the judge.

0:32:37 > 0:32:40But he is no longer the most powerful man in the room.

0:32:40 > 0:32:41If you continue like this...

0:32:41 > 0:32:43After 16 years as a fugitive, Ratko Mladic couldn't

0:32:44 > 0:32:45escape this judgment.

0:32:45 > 0:32:51He was found guilty of ten out of 11 charges.

0:32:51 > 0:32:54Guilty as a member of various joint criminal enterprises

0:32:54 > 0:32:56of the following counts.

0:32:56 > 0:33:02Count two, genocide.

0:33:02 > 0:33:08Count three, persecution, a crime against humanity.

0:33:08 > 0:33:15Count four, extermination, a crime against humanity.

0:33:16 > 0:33:21Outside, survivors travelled from Bosnia.

0:33:21 > 0:33:23This pursuit of justice has given them something to live for

0:33:23 > 0:33:26after their families were destroyed.

0:33:26 > 0:33:28Ratko Mladic personally directed the shelling

0:33:28 > 0:33:34of the cosmopolitan capital, Sarajevo.

0:33:34 > 0:33:37He was involved in selecting targets and directed his forces away

0:33:37 > 0:33:39from Serb neighbourhoods.

0:33:39 > 0:33:41The siege lasted more than three years and left

0:33:41 > 0:33:43more than 10,000 people, mostly civilians and

0:33:43 > 0:33:50many children, dead.

0:33:50 > 0:33:52Here, the burly general can be seen reassuring the crowds

0:33:52 > 0:33:55that they would come to no harm, before the men and boys

0:33:55 > 0:34:01as young as 12 were taken to the execution sites.

0:34:01 > 0:34:05No one can be sure exactly how many people died in Srebrenica.

0:34:05 > 0:34:08The mass graves were excavated by Serb forces in an effort

0:34:08 > 0:34:13to hide their crimes.

0:34:13 > 0:34:166,000 of the victims are buried here in the place where they sought

0:34:16 > 0:34:18protection from the UN in what was supposed

0:34:18 > 0:34:21to be a safe zone.

0:34:21 > 0:34:31Ratko Mladic was the mastermind of all of this.

0:34:35 > 0:34:39Many of these families who travelled here to the Hague are hoping

0:34:39 > 0:34:42that this life sentence and the way that Ratko Mladic acted in court

0:34:42 > 0:34:45will mean he goes down in history as a coward,

0:34:45 > 0:34:48who in those final moments, couldn't face up to his own crimes.

0:34:48 > 0:34:49Anna Holligan, the Hague.

0:34:49 > 0:34:53In the last hour, Zimbabwe's former Vice-President Emmerson Mnangagwa

0:34:53 > 0:34:56has arrived back in the country, following Robert Mugabe's surprise

0:34:56 > 0:35:01resignation yesterday.

0:35:01 > 0:35:09He will be sworn in as Zimbabwe's new head of state on Friday.

0:35:11 > 0:35:18The BBC understands London Metropolitan Police are

0:35:18 > 0:35:21investigating the Hollywood star Kevin Spacey over a second alleged

0:35:21 > 0:35:27sexual assault. The date of the allegation goes back to 2005, and

0:35:27 > 0:35:31took place in Lambeth, the location of the old Vic Theatre where Kevin

0:35:31 > 0:35:34Spacey was artistic director.

0:35:34 > 0:35:36The UK's information Commissioner has expressed 'huge concerns'

0:35:36 > 0:35:39about the ethics and policies of the mini cab service

0:35:39 > 0:35:40Uber after the company admitted concealing

0:35:40 > 0:35:41a massive security breach.

0:35:41 > 0:35:43The breach, which took place in October last year affected

0:35:43 > 0:35:5357 million of Uber's customers and drivers around the world.

0:35:53 > 0:35:55It's emerged that Uber paid the hackers £75,000

0:35:55 > 0:35:57to delete the data - which included customers

0:35:57 > 0:36:07names, email addresses and mobile phone numbers.

0:36:11 > 0:36:14The American actor and 70s teen idol David Cassidy has died aged 67.

0:36:14 > 0:36:16He found fame in the sitcom "The Partridge Family",

0:36:16 > 0:36:18then enjoyed a hugely successful music career, selling more

0:36:18 > 0:36:19than 30 million records worldwide.

0:36:19 > 0:36:21He was admitted to hospital in Florida last week

0:36:21 > 0:36:24with multiple organ failure.

0:36:24 > 0:36:28Let's return to my colleague Jane Hill at Westminster for some more

0:36:28 > 0:36:32budget reaction. Welcome back to a blustery Westminster, we will talk

0:36:32 > 0:36:36about what it means the business, small and large, in the next few

0:36:36 > 0:36:40minutes, but for now let's had backed the Jo Coburn, my colleague,

0:36:40 > 0:36:43she has a bit more on personal finances and I'm sure more besides

0:36:43 > 0:36:49over in Peterborough. Thank you. We have been gauging reaction from

0:36:49 > 0:36:52businesses all over the afternoon and we have been based in one of the

0:36:52 > 0:36:55leading businesses in the country, a leading manufacturer, Lawrence

0:36:55 > 0:37:01David. They build and make lorry trailers. And their business here

0:37:01 > 0:37:05has expanded over the last few years, but we have been discussing

0:37:05 > 0:37:09those growth forecasts, which have been downgraded, and how that will

0:37:09 > 0:37:12affect businesses like Lawrence David. There was plenty of other

0:37:12 > 0:37:16stuff, though, in the budget, affecting people's personal finances

0:37:16 > 0:37:20on the one hand and also things that the council has responsibility for.

0:37:20 > 0:37:24He did talk to us is John Holder j, the Conservative leader of

0:37:24 > 0:37:26Peterborough City Council, and we will then also talk about whether

0:37:26 > 0:37:31Peterborough is Brexit ready with Lesley Batchelor, who is the

0:37:31 > 0:37:36director-general of the Institute of and international trade. I can't

0:37:36 > 0:37:39help but notice, because it is quite a large badge you have, protect our

0:37:39 > 0:37:47vital services. Did Philip Hammond do that today?Most certainly not.

0:37:47 > 0:37:51Our budget has been cut by 80% and we have another 35mm go. With the

0:37:51 > 0:37:57extra pressures, it will amount to £200 million to a small authority

0:37:57 > 0:38:02like Peterborough. We have been very innovative in finding different ways

0:38:02 > 0:38:05to raise money and doing things differently but we have come to the

0:38:05 > 0:38:08end of the road on that. It does mean if we don't get some extra

0:38:08 > 0:38:14money then it will mean cuts in social care and social services to

0:38:14 > 0:38:19children, as well.But you are Conservative leader of this City

0:38:19 > 0:38:22Council, have you made your feelings known to the Chancellor?Absolutely,

0:38:22 > 0:38:28we have made our feelings known. We have the MPs on our side to lobby

0:38:28 > 0:38:36government. So we are making our feelings known. And we have built a

0:38:36 > 0:38:39case which I think the government will be quite impressed with. I am

0:38:39 > 0:38:43quite happy to lobby my own government, because I believe we

0:38:43 > 0:38:45have great ability here in Peterborough. We have done it, we

0:38:45 > 0:38:50haven't moaned about doing it, we're just saying this is a step too far.

0:38:50 > 0:38:53The Chancellor said he wanted a balanced approach, there are still a

0:38:53 > 0:38:57deficit clear, this is all his words, and that actually anything he

0:38:57 > 0:39:00spends the still going to be added to borrowing. Do you accept that

0:39:00 > 0:39:04when it comes to the issue of paying public sector workers?Yes, I do

0:39:04 > 0:39:09accept that, but sometimes you do have to bend that, and I understand

0:39:09 > 0:39:11when government make the rules it affects different people in

0:39:11 > 0:39:16different ways. And I believe because it is fairer funding we are

0:39:16 > 0:39:20after, it needs to be fairer and you need to look at it not in isolation.

0:39:20 > 0:39:25Who would talk briefly before the end about Universal Credit, but

0:39:25 > 0:39:28perhaps one of the reasons there is not more money being given the

0:39:28 > 0:39:33councils like John's is because Philip Hammond has decided to put

0:39:33 > 0:39:38aside £3 billion in preparations for Brexit. Is that going to help

0:39:38 > 0:39:41Peterborough be Brexit ready?I think it will help the nation be

0:39:41 > 0:39:44Brexit ready. The fact of the matter is we need to spend a lot of money

0:39:44 > 0:39:48on our controls, we need borders, we need more and more staff to clear

0:39:48 > 0:39:54goods through customs, we need more efficient software. We need to

0:39:54 > 0:39:56embrace of the technologies that will help us to do this successfully

0:39:56 > 0:40:01and efficiently and it will cost money.In terms of exports, how much

0:40:01 > 0:40:06have businesses here been helped by the depreciation of the pound?It

0:40:06 > 0:40:09depends which market and sector they are working in. If you are bringing

0:40:09 > 0:40:14in a lot of raw materials from across Europe or the USA, a lot of

0:40:14 > 0:40:17the Chinese deal in dollars, it will start really impacting on your price

0:40:17 > 0:40:22that you can charge in this country, and again outside to the external

0:40:22 > 0:40:26export markets.Are you optimistic about the opportunities that the

0:40:26 > 0:40:29government talks about, or are you fearful for what it might do the

0:40:29 > 0:40:33businesses of they don't know the shape of the deal that Brexit will

0:40:33 > 0:40:38bring?There is no point worrying about the shape of the deal because

0:40:38 > 0:40:41it will be a last-minute thing and we have to just accept that. What I

0:40:41 > 0:40:44am really worrying about is the fact that businesses are not doing more

0:40:44 > 0:40:49to find out how to do this effectively, how international trade

0:40:49 > 0:40:52works with the rest of the world and what they need to understand, is far

0:40:52 > 0:40:55as compliance and regulatory issues that they will face.The Chancellor

0:40:55 > 0:41:00was very keen to emphasise help he is giving the first time buyers with

0:41:00 > 0:41:05his announcement on stamp duty. He also said he was listening to the

0:41:05 > 0:41:10concerns on Universal Credit, he has cut that seven-day waiting time, but

0:41:10 > 0:41:13it is still five weeks. Will that make enough difference for the

0:41:13 > 0:41:17people you deal with?It won't. The other measures the government has

0:41:17 > 0:41:25made has put housing homelessness up in Peter by about 200%. This will

0:41:25 > 0:41:30probably suffer going higher. What he ought to have done is made

0:41:30 > 0:41:33developers develop the land they have permission for.Not have this

0:41:33 > 0:41:38review.He needs to do it because we have a lot of land in Peterborough

0:41:38 > 0:41:42where we could build houses for homeless people but we can't get the

0:41:42 > 0:41:45developers to start work.John and Lesley, thank you both for joining

0:41:45 > 0:41:55me. But is it, with that it is back to you, Jane. Thank you, Jo Coburn.

0:41:55 > 0:41:59Let's assess what Philip Hammond's announcements mean the businesses of

0:41:59 > 0:42:05all sizes. Let's discuss with Ruth Lea, Caroline

0:42:09 > 0:42:12With me now is Carolyn Fairbairn, the Director General of the CBI,

0:42:12 > 0:42:13Ruth Lea, Economic Adviser at Arbuthnot Banking Group,

0:42:13 > 0:42:16and Mike Cherry, National Chairman at the Federation Small Business.

0:42:16 > 0:42:18Mike, let's talk about small businesses, what is positive in this

0:42:18 > 0:42:22for you today?I think it has been really positive to small businesses,

0:42:22 > 0:42:25the Chancellor has clearly listen to what we have been lobbying about,

0:42:25 > 0:42:29firstly the possible reduction in the VAT threshold from 85,000 down

0:42:29 > 0:42:36to 20 6000. Given the current economic environment in which small

0:42:36 > 0:42:39businesses are working, there are big challenges, so do have that

0:42:39 > 0:42:43threat removed almost is very, very welcome indeed.He just didn't move

0:42:43 > 0:42:48on that and I could sense the relief in that sense.And I would have been

0:42:48 > 0:42:53a huge additional administrative burden on the many small businesses

0:42:53 > 0:42:55that they don't have the resources to cope with at the moment.

0:42:55 > 0:43:02Secondly, staircase tax,...You are my first guest to mention that

0:43:02 > 0:43:07today, I like to have something new! Rape where businesses may offer --

0:43:07 > 0:43:11may have more than one floor in a building service to a communal

0:43:11 > 0:43:15staircase or lift, there was a taxi didn't even know about. Even more

0:43:15 > 0:43:21importantly it was retrospective, back to 2015 in England and would

0:43:21 > 0:43:27you believe back to 2010 in Wales. So getting legislation in quickly

0:43:27 > 0:43:31with hopefully cross carted for -- cross-party support is very welcome

0:43:31 > 0:43:42indeed. And then bringing that forward to next April, it will save

0:43:42 > 0:43:46a further 1% earlier than business would have paid. Very welcome. All

0:43:46 > 0:43:50in all, a good budget for businesses. That is the view from

0:43:50 > 0:43:55small businesses, Caroline Fairbairn, the CBI, what you take

0:43:55 > 0:43:59this?Clearly it is a pretty sombre economic backdrop, that came over in

0:43:59 > 0:44:02spades, which is why was particularly important to see a good

0:44:02 > 0:44:17budget for the economy, permitting we did. For the short run, business

0:44:17 > 0:44:23rates have been a big challenge for businesses of all sizes. Anybody

0:44:23 > 0:44:28with buildings frankly and that will be very important. We also welcome

0:44:28 > 0:44:32the contingency planning around Brexit. We want to see the

0:44:32 > 0:44:37government doing it as well so that is very good. But the long-term is

0:44:37 > 0:44:40very important, productivity growth is the most important thing. To see

0:44:40 > 0:44:44the action on skills we will have a partnership with the TUC and the

0:44:44 > 0:44:57government on retraining. We have seen some real money behind that.

0:44:57 > 0:45:02Crucially infrastructure spending across the country. A lot of focus

0:45:02 > 0:45:07on regional. One caveat we have, there was a lot of talk in the

0:45:07 > 0:45:10budget around commitment to the metro mayors and the spending of

0:45:10 > 0:45:12infrastructure money for the metro mayors. We must make sure that

0:45:12 > 0:45:17regions of the country that do not yet have mayors do not get left

0:45:17 > 0:45:21behind Fosterthat is interesting, the devolution point. Ruth, you

0:45:21 > 0:45:26nodding through a lot of that, what is your take on this?Picking up on

0:45:26 > 0:45:31Caroline's point on positivity, I think the OBR was far too

0:45:31 > 0:45:34pessimistic. Having forecast all these increases on productivity and

0:45:34 > 0:45:38it has not happened, they have gone in the other direction. And the

0:45:38 > 0:45:43growth will be incredibly weak. I think once we have got down, and

0:45:43 > 0:45:46deployment is about 4.3%, effectively full employment, there

0:45:46 > 0:45:49will be a slowdown in net immigration. If businesses want to

0:45:49 > 0:45:52grow they will have to push productivity, raise their game, so I

0:45:52 > 0:45:57think the OBR has got a little bit too pessimistic, and the growth

0:45:57 > 0:46:01figures look a bit too pessimistic. The second thing is and I was wrote

0:46:01 > 0:46:04a post about this because I had worked out Philip Hammond as a

0:46:04 > 0:46:09mother who never does anything that is terribly surprisingly unusual

0:46:09 > 0:46:15anti-surprise me.Spreadsheet Phil. It has wrecked all of the

0:46:15 > 0:46:18preconceptions of the man, he has had quite an expansionary budget,

0:46:18 > 0:46:22and all of the smoke signals ahead of this, that it was going to be

0:46:22 > 0:46:26incredible cautious and careful. Because of his policy changes, the

0:46:26 > 0:46:29extra public spending, which I understand for political spending

0:46:29 > 0:46:37reasons, the net tax, more borrowing next year, £9 billion nearly, that

0:46:37 > 0:46:40is actually a surprise.There is every things you have also that I

0:46:40 > 0:46:46would love to continue with. I am sorry we are out of time. Much more

0:46:46 > 0:46:51there, we have other people to talk to, but very good to speak to you.

0:46:51 > 0:46:54Thank you so much for your perspectives on the budget, a degree

0:46:54 > 0:47:00of optimism we haven't quite heard yet, it is fair to say. We are going

0:47:00 > 0:47:06to head to Manchester, Judith Moritz is therefore some more reaction and

0:47:06 > 0:47:12in particular a bit more about housing anything.

0:47:13 > 0:47:16Yes, housing, and how young people in particular have reacted to this

0:47:16 > 0:47:19budget. We are at the Manchester Christmas markets, there is

0:47:19 > 0:47:24something here for all ages but I have rounded up some

0:47:24 > 0:47:27twentysomethings to ask them what they think. In terms of housing, I

0:47:27 > 0:47:33have Katie and Luke, both in their 20s. Katie Kimura 28, is that right,

0:47:33 > 0:47:40and Luke 21. The idea that abolishing stamp duty for first-time

0:47:40 > 0:47:47buyers up the properties up to £300,000, does that affect you?It

0:47:47 > 0:47:50doesn't make any difference to me because I would have rented, so I

0:47:50 > 0:47:54would not have been able to save for a mortgage or anything like that. It

0:47:54 > 0:47:58really makes no difference.The concept of buying a house still

0:47:58 > 0:48:04fills a long way off you?Yes, I've got a child and rent to pay, so

0:48:04 > 0:48:08getting a mortgage for me is just not foreseeable in the next 45

0:48:08 > 0:48:13years.Even the thought of stamp Judy going away.Makes no

0:48:13 > 0:48:16difference, because I still have to be of the save and pay for

0:48:16 > 0:48:22everything else.Luke, for you, in terms of property ladder Kimura only

0:48:22 > 0:48:2821, is it something that you have in your sights at this point?I think

0:48:28 > 0:48:31it is more of a struggle for young people, especially university

0:48:31 > 0:48:38students. Especially when they leave university, because there are such a

0:48:38 > 0:48:43big burden and it is a lot easier to go out of uni and go straight into a

0:48:43 > 0:48:47house. It is definitely a hard thing for young people. Me and myself and

0:48:47 > 0:48:50a lot of friends of mine have ended up being homeless for a short amount

0:48:50 > 0:48:55of time, because it is definitely a struggle we don't get educated

0:48:55 > 0:49:02enough about. It is hard.You have touched on lots of therefore stop

0:49:02 > 0:49:05this government has looked at homelessness. Manchester where we

0:49:05 > 0:49:08are is one pilot area that will receive money to help with

0:49:08 > 0:49:11homelessness. Is that something you welcome, having experienced it

0:49:11 > 0:49:19yourself?I don't know. It is obviously very much a mixed opinion.

0:49:19 > 0:49:25I don't believe that there is any changes. I have only lived in

0:49:25 > 0:49:28Manchester for two years, and I can just see it progressing worse and

0:49:28 > 0:49:35worse. But it definitely is rising, the number of students who come out

0:49:35 > 0:49:37of university, dropped out of university or finish university and

0:49:37 > 0:49:42being homeless, for sure. Just because it is such high prices

0:49:42 > 0:49:49around the city centre. And I don't think we are educated enough on just

0:49:49 > 0:49:55how much of a big world it is once you leave.Thank you. We will move

0:49:55 > 0:49:59over to some of the people here at the market, a fairly pessimistic

0:49:59 > 0:50:03view from those two twentysomethings. We now have Sian

0:50:03 > 0:50:08and Craig. There is lots in this budget that the light apply to you.

0:50:08 > 0:50:12On the homeless issue, is homelessness, particularly

0:50:12 > 0:50:15Manchester has been chosen as a pilot area to see an improvement,

0:50:15 > 0:50:18also the question about stamp duty being abolished if you're looking to

0:50:18 > 0:50:24buy a house, first-time buyers. Housing and homelessness, what is

0:50:24 > 0:50:27your feeling?Housing Israeli important, I can see it all around

0:50:27 > 0:50:31the city, is getting worse. The view on homeless people is that they are

0:50:31 > 0:50:36scam come you can't help them, but if we put a bit more into helping

0:50:36 > 0:50:39the homeless, these people would be but have a better future for

0:50:39 > 0:50:44themselves.In terms of abolishing stamp Judy for first-time up to 30

0:50:44 > 0:50:51-- up to £300,000, what is your feeling?I am a homeowner, Craig, my

0:50:51 > 0:50:55partner, is not a homeowner yet. He is self-employed, so difficult to

0:50:55 > 0:51:00get a mortgage anyway. Whether or not by the time we get there it is

0:51:00 > 0:51:05still in place, we will see.We are out of time but the views of three

0:51:05 > 0:51:08people who I suppose have looked at the budget, hoping the ricin thing

0:51:08 > 0:51:11there for them. There are improvements they are saying but

0:51:11 > 0:51:16they don't necessarily apply to them right now. So for them here in

0:51:16 > 0:51:19Manchester there is not a great deal of optimism about what we are

0:51:19 > 0:51:21hearing.

0:51:25 > 0:51:29Let's discuss some of what was announced, in terms of Scotland

0:51:29 > 0:51:35specifically. Ian Blackford has just joined me, SNP leader in the House

0:51:35 > 0:51:39of Commons. Good to see you, thanks for being here. If my eyesight

0:51:39 > 0:51:42doesn't deceive me, an extra 2 billion to the Scottish Government?

0:51:42 > 0:51:46That is what has been trumpeted by the Chancellor of the Exchequer this

0:51:46 > 0:51:51afternoon. What he didn't say in real terms over the lifetime of the

0:51:51 > 0:51:55parliament is another cut of 250 million because of the inflationary

0:51:55 > 0:51:59aspects of the five-year period. We have had a cut to a budget of 2.9

0:51:59 > 0:52:02billion over the lifetime of the last Parliament, so this in a sense

0:52:02 > 0:52:06is a continuation of austerity. What we have argued that austerity must

0:52:06 > 0:52:12end because we're taking money out of the public sector workers, so it

0:52:12 > 0:52:15has been a massive missed opportunity to make sure we are

0:52:15 > 0:52:23investing to grow the economy, and what we have is in real terms a cut.

0:52:23 > 0:52:26I was picking up earlier on a lot of positivity around the issue of

0:52:26 > 0:52:32police, VAT funding, and that is something you have wanted.I will

0:52:32 > 0:52:36give credit that at long last the government has removed VAT from

0:52:36 > 0:52:40Scottish fire and police, the only two authorities in the whole of the

0:52:40 > 0:52:43United Kingdom that were paying VAT. It was nasty and active gifted, and

0:52:43 > 0:52:49they had the opportunity to do a previously -- and vindictive. What I

0:52:49 > 0:52:54want the Chancellor now to do is to repay as the sums for the last three

0:52:54 > 0:52:58years, which hit it within his give to do. It is great we have that

0:52:58 > 0:53:08money to invest.Let's see if you might respond to your challenge.

0:53:08 > 0:53:14There is a lot of talk today as you will be aware around the housing

0:53:14 > 0:53:17issues, very difficult times for young people, people wanting to get

0:53:17 > 0:53:21on the housing ladder. We'll know about the stamp Judy move that has

0:53:21 > 0:53:26been announced today first-time buyers. That is only fine and Wales.

0:53:26 > 0:53:36How can Scotland respond to that? Could you do similarly?We will look

0:53:36 > 0:53:40at it butfor the first time young people will be worse off than their

0:53:40 > 0:53:44parents, there is a real crisis for millennials. This budget on that

0:53:44 > 0:53:49account and also in terms of the general economy has misfired. The

0:53:49 > 0:53:55Office for Budget Responsibility has cut the forecast for GDP by 2.7%

0:53:55 > 0:53:58over the course of the next five years. When you get beyond the fluff

0:53:58 > 0:54:07and bluster of the budget, the fiscal stimulus is nothing. We are

0:54:07 > 0:54:14already losing jobs from the UK. 1000 jobs going in London. We know

0:54:14 > 0:54:19that a hard Brexit will harm our economy. We believe in Scotland it

0:54:19 > 0:54:22could cost us up to 80,000 jobs. Today was an opportunity for the

0:54:22 > 0:54:28Chancellor to show he could invest, a budget for people and prosperity.

0:54:28 > 0:54:30There was a missed opportunity today.

0:54:34 > 0:54:40And he very much for being with us. We will talk a bit more in a moment

0:54:40 > 0:54:49about public sector pay, alongside the Chancellor's budget today

0:54:51 > 0:54:55let's just hear a little bit about that because a short while ago the

0:54:55 > 0:55:01chairman of the OBR explained these forecasts, and went through how the

0:55:01 > 0:55:06government's tax and spend policies have affected the economic outlook.

0:55:06 > 0:55:10There are tax cuts, the largest are stamp Judy relief first-time buyers

0:55:10 > 0:55:15and inevitably another freeze in fugitive. We estimate the stamp duty

0:55:15 > 0:55:21-- in fuel duty. The main financial gains will be people who own

0:55:21 > 0:55:24property is already rather than the first-time buyers themselves. Fifth,

0:55:24 > 0:55:30there is a much larger number of much smaller tax increases, which

0:55:30 > 0:55:34include a raft of new anti-avoidance and evasion measures focusing on

0:55:34 > 0:55:39additional resources for HMRC, thus a freeze on the indexation allowance

0:55:39 > 0:55:43of corporation tax and stop interestingly the only year in which

0:55:43 > 0:55:49tax increases outweigh tax cuts is in the fiscal target year of

0:55:49 > 0:55:522020-2021. This is the result of delaying by a year the introduction

0:55:52 > 0:55:57of the new capital gains tax payment window, which boosts receipts and

0:55:57 > 0:56:01its first year of operation. When it was announced in Autumn Statement

0:56:01 > 0:56:062015, it boosted receipts in the event target year of 2019-20.

0:56:06 > 0:56:10Finally, the measures have indirect effects on government borrowing that

0:56:10 > 0:56:14reduce the deficit somewhat in most years. Mostly because the increase

0:56:14 > 0:56:23is in departmental spending, clearly on pay.Robert Orchard from the OBR.

0:56:23 > 0:56:28Much more on all of that after 4pm, continuing our reaction from here at

0:56:28 > 0:56:33Westminster. We are going to pause for a cover of mowers, we will catch

0:56:33 > 0:56:41up with the weather frustrates wherever you are in the country.

0:56:41 > 0:56:48Hello. A mixed bag, some wet and windy weather in the forecast, the

0:56:48 > 0:56:48heaviest of

0:56:48 > 0:56:50windy weather in the forecast, the heaviest of that rain the north-west

0:56:50 > 0:56:53England, parts of Wales southern Scotland. We've got strong winds

0:56:53 > 0:56:59across England and Wales, gusts of up to 70 mph on exposed coast. The

0:56:59 > 0:57:02rain has been very heavy, particularly in the north-west.

0:57:02 > 0:57:06There are some flood warnings in Cumbria, this photo sent in earlier

0:57:06 > 0:57:10by our Weather Watcher. We are seeing these weather fronts working

0:57:10 > 0:57:13north and east, the rain today. You can see the isobars fairly tightly

0:57:13 > 0:57:18packed. The best of the bright, dry weather is certainly the south-east.

0:57:18 > 0:57:22But as we go through rush-hour today in particular with heavy rain and

0:57:22 > 0:57:26strong winds, we can see some difficult driving conditions.

0:57:26 > 0:57:30Through this evening and overnight, the rain easing for a time in

0:57:30 > 0:57:33Scotland before receiving next area of rain pushing in from the south.

0:57:33 > 0:57:37It will turn to rain

0:57:37 > 0:57:42some heavy bursts of rain and the odd rumble of thunder as well,

0:57:42 > 0:57:46temperatures in the South staying in the double figures but a cooler

0:57:46 > 0:57:50night come in the north, with temperatures close to freezing.

0:57:50 > 0:57:55Tomorrow morning there will be some snow to low levels. Looking at

0:57:55 > 0:57:59between two and five centimetres but there will be more snow over higher

0:57:59 > 0:58:04ground, greater accumulation is when you're out over higher ground. For

0:58:04 > 0:58:06Northern Ireland and southern Scotland, northern England, some

0:58:06 > 0:58:11showers that could be wintry. As we move through England, Wales and

0:58:11 > 0:58:14further down into the south-west: 20 brightness around but a cooler start

0:58:14 > 0:58:19of the day tomorrow. We're just seeing the rain clear the south-east

0:58:19 > 0:58:24thing through the morning. As we move through the day, the snow in

0:58:24 > 0:58:29the North will turn to rain as it clears its way east for Northern

0:58:29 > 0:58:32Ireland. Still a scattering of showers, if you showers working in

0:58:32 > 0:58:36from Wales and to the south-west, but a lot of dry, bright weather to

0:58:36 > 0:58:39come and still fairly breezy, although the winds will be slightly

0:58:39 > 0:58:43later tomorrow. The exception to that is the far north, which will be

0:58:43 > 0:58:47quite windy. Temperatures at a maximum of 14 Celsius in the

0:58:47 > 0:58:52south-east. The move into Friday, a cold start, touch of frost in the

0:58:52 > 0:58:55north. A bidder brightness around and the potential of season wintry

0:58:55 > 0:59:04showers, holding onto some cloud. Some cooler temperatures, backed

0:59:04 > 0:59:07down on the single figures. A fair amount going on in the weather at

0:59:07 > 0:59:13the moment. Stay up-to-date on the forecast application at our website.

1:00:07 > 1:00:09This is BBC News, I'm Jane Hill at Westminster

1:00:09 > 1:00:12where the Chancellor has delivered his Budget,

1:00:12 > 1:00:16with money for housing, the NHS and Brexit preparations.

1:00:16 > 1:00:18Mr Hammond said he'd prepared a balanced budget

1:00:18 > 1:00:20which was "full of change, full of challenges and full

1:00:21 > 1:00:22of new opportunities".

1:00:22 > 1:00:29I report today on an economy that continues to grow, continues to

1:00:29 > 1:00:32create more jobs than ever before and continues to confound those who

1:00:32 > 1:00:34seek to talk it down.

1:00:34 > 1:00:39They call this a Budget fit for the future.

1:00:39 > 1:00:45The reality is this is a government no longer fit for office.

1:00:45 > 1:00:51Growth forecasts for the UK are substantially downgraded

1:00:51 > 1:00:55with output expected to be lower over the coming years.

1:00:55 > 1:00:57On housing, stamp duty for all first-time buyers in England

1:00:57 > 1:00:59and Wales will be scrapped immediately for purchases

1:00:59 > 1:01:05up to £300,000.

1:01:05 > 1:01:09The Office for Budget Responsibility says it will push house prices up.

1:01:09 > 1:01:11Under pressure from Labour on Universal Credit -

1:01:11 > 1:01:13Mr Hammond delivered a £1.5 billion package to cut the waiting

1:01:13 > 1:01:14time for payments.

1:01:14 > 1:01:17The NHS in England will receive an extra £2.8 billion by 2020

1:01:17 > 1:01:19with £350 million provided immediately to allow trusts

1:01:19 > 1:01:25to plan for the winter.

1:01:25 > 1:01:33Critics are saying it is not enough. The Chancellor promised £10 billion

1:01:33 > 1:01:38in 2015 and delivered £4.5 billion. If you don't minute we'll wait for

1:01:38 > 1:01:41the small print on today's announcement.

1:01:41 > 1:01:44The tax on tobacco continues to rise but there's a freeze on wine,

1:01:44 > 1:01:47cider and spirits and the fuel duty rise for both petrol

1:01:47 > 1:01:57and diesel is cancelled.

1:02:07 > 1:02:12Good afternoon from Westminster where the Chancellor,

1:02:12 > 1:02:20Philip Hammond, has delivered a Budget which he said would make

1:02:20 > 1:02:22the UK "fit for the future" and an "outward looking,

1:02:22 > 1:02:24free-trading nation" once it leaves the European Union.

1:02:24 > 1:02:27But he had to announce dramatically downgraded growth forecasts for next

1:02:27 > 1:02:30five years from a previously announced 2% this year, to 1.5%.

1:02:30 > 1:02:33He told the Commons that an extra £3 billion will be set aside

1:02:33 > 1:02:38over the next two years to prepare for Brexit.

1:02:38 > 1:02:40The Labour leader, Jeremy Corbyn, said the Chancellor's statement

1:02:40 > 1:02:43was a "record of failure with a forecast of more to come".

1:02:43 > 1:02:49Let's take a look at some of the main measures in today's Budget.

1:02:49 > 1:02:52On housing, there was good news for people in England and Wales

1:02:52 > 1:02:55wanting to purchase their first home with news that Stamp Duty

1:02:55 > 1:02:57for first-time buyer purchases up to £300,000

1:02:57 > 1:02:59is to be abolished immediately.

1:02:59 > 1:03:03The Office for Budget Responsibility says the process will put prices up.

1:03:03 > 1:03:07The Chancellor promised at least £44 billion of capital funding,

1:03:07 > 1:03:11loans and guarantees over five years, to support house-building.

1:03:11 > 1:03:14He said the government would commit to a long-term goal to build 300,000

1:03:14 > 1:03:24new homes a year by the mid-2020s.

1:03:24 > 1:03:26The Government bowed to pressure over Universal Credit with a £1.5

1:03:26 > 1:03:29billion package to cut the waiting period for payments -

1:03:29 > 1:03:31and make it easier for claimants to receive an advance.

1:03:31 > 1:03:33£2.8 billion will be provided in extra funding

1:03:33 > 1:03:36for the NHS in England - £350 million immediately to address

1:03:36 > 1:03:39pressures this winter.

1:03:39 > 1:03:41Looking at the economy as a whole the Chancellor

1:03:41 > 1:03:43delivered some sobering news.

1:03:43 > 1:03:46Let's look at the detail on that.

1:03:46 > 1:03:49He said the independent Office for Budget Responsibility had

1:03:49 > 1:03:53downgraded its forecast for economic growth this year from 2% to 1.5%.

1:03:53 > 1:03:56He said that annual borrowing would be £49.9 billion

1:03:56 > 1:04:02in 2017-2018, lower than forecast in the spring Budget.

1:04:02 > 1:04:06And according to the OBR, government debt will peak this

1:04:06 > 1:04:10year at 86.5% of GDP, before falling to 86.4% next year.

1:04:10 > 1:04:12That's the picture for the economy as a whole.

1:04:12 > 1:04:17Much more discussion on that throughout the afternoon

1:04:17 > 1:04:19here at Westminster.

1:04:19 > 1:04:22Let's also take a look now at some of the measures announced.

1:04:22 > 1:04:25There was good news for motorists as the Chancellor announced

1:04:25 > 1:04:27that the annual rise in duty on petrol and diesel

1:04:27 > 1:04:28will be cancelled.

1:04:28 > 1:04:31Not such good news for smokers as tobacco products will continue

1:04:31 > 1:04:34to rise at inflation plus 2%.

1:04:34 > 1:04:36For drinkers, duty on beer, wine, spirits and most

1:04:36 > 1:04:46ciders will be frozen.

1:04:46 > 1:04:49Our Political Correspondent Leila Nathoo has this report.

1:04:49 > 1:04:53Are you boxed in, Chancellor?

1:04:53 > 1:04:56He has been under pressure, but the Chancellor this morning

1:04:56 > 1:04:57was putting on a brave face.

1:04:57 > 1:05:00Any tricks in your red box?

1:05:00 > 1:05:06Preparing to set out the journey ahead for the Government's

1:05:06 > 1:05:07tax and spending plans.

1:05:07 > 1:05:10Brexit looms large.

1:05:10 > 1:05:13There's not much cash in the kitty and there have been demands

1:05:13 > 1:05:15from some of his Conservative colleagues for a big and bold

1:05:15 > 1:05:20Budget to lift the party's post election gloom.

1:05:20 > 1:05:22In the Commons, as the Chancellor waited to deliver his statement,

1:05:22 > 1:05:24the Prime Minister insisted her government was putting

1:05:24 > 1:05:25the country first.

1:05:25 > 1:05:27I'm optimistic about our future.

1:05:27 > 1:05:34I'm optimistic about the success we can make of Brexit.

1:05:34 > 1:05:37I'm optimistic about the well-paid jobs that will be created.

1:05:37 > 1:05:39I'm optimistic about the homes we will build.

1:05:39 > 1:05:47That's Conservatives, building a Britain fit for the future.

1:05:47 > 1:05:51I now call the Chancellor of the Exchequer, Philip Hammond.

1:05:51 > 1:05:54Then it was Philip Hammond's turn at the dispatch box

1:05:54 > 1:05:56to set out his strategy.

1:05:56 > 1:05:58Insisting the Government had been listening.

1:05:58 > 1:06:00We understand the frustration of families where real

1:06:00 > 1:06:02incomes are under pressure.

1:06:02 > 1:06:06So at this Budget, we choose a balanced approach.

1:06:06 > 1:06:09Yes, maintaining fiscal responsibility as we at last

1:06:09 > 1:06:15see our debt peaking.

1:06:15 > 1:06:17Continuing to invest in the skills and infrastructure that will support

1:06:18 > 1:06:22the jobs of the future.

1:06:22 > 1:06:24Building the homes that will make good on our promise

1:06:24 > 1:06:27to the next generation.

1:06:27 > 1:06:29But crucially, also, helping families to cope

1:06:29 > 1:06:39with the cost of living.

1:06:42 > 1:06:54There was plenty of jokes.

1:06:55 > 1:06:59Then a headline on housing in England and Wales.For all first

1:06:59 > 1:07:03time buyer purchases up to £300,000 I am abolishing stamp duty

1:07:03 > 1:07:09altogether. Philip Hammond announced changes to

1:07:09 > 1:07:12Universal Credit following intense political pressure, promising

1:07:12 > 1:07:16additional funding to cut waiting times for the payment and to make it

1:07:16 > 1:07:20quicker to claim advance. There will be an extra £2.8 billion for the NHS

1:07:20 > 1:07:25in England. And more cash for schools which boost their numbers of

1:07:25 > 1:07:29maths students. Plus with plans to be at the fore front of tech, the

1:07:29 > 1:07:35Chancellor wants driverless cars on the country's roads by 2021. But

1:07:35 > 1:07:39Labour's attacked the Budget calling it a record of failure with a

1:07:39 > 1:07:43forecast of more to come.People were looking for help from this

1:07:43 > 1:07:47Budget and they have been let down. Let down by a government that like

1:07:47 > 1:07:52the economy they presided over, is weak, and unstible and in need of

1:07:52 > 1:07:58urgent change. They call this a Budget fit for the future. The

1:07:58 > 1:08:04reality is, this is a government no longer fit for office.

1:08:04 > 1:08:08This was a measured Budget. No fireworks, no slip-ups, the

1:08:08 > 1:08:12Chancellor will hope he has done enough to convince the country and

1:08:12 > 1:08:15his own colleagues that he is the right man to remain in charge of the

1:08:15 > 1:08:21economy.

1:08:21 > 1:08:25With me now is the Shadow Chancellor John McDonnell.

1:08:25 > 1:08:30There is one for the NHS. There is help for first-time buyers. Nurses

1:08:30 > 1:08:35are likely to get a pay rise and there is lots to be positive about?

1:08:35 > 1:08:42The money for the NHS, Simon Stevens the Chief Executive said he needs £4

1:08:42 > 1:08:49million now. So it goes nowhere near what's needed. He said if we don't

1:08:49 > 1:08:52get the money, there will be five million on waiting listsment it is

1:08:52 > 1:08:58unacceptable. In terms of education, nothing. 5,000 headteachers wrote to

1:08:58 > 1:09:02the Chancellor and said we need to end the education cuts and it is the

1:09:02 > 1:09:07first time we have had per capita cuts in education and nothing. For

1:09:07 > 1:09:10the nurses, all they got let's talk about and come back in the New Year.

1:09:10 > 1:09:14There was no real serious commitments here today. It was like

1:09:14 > 1:09:16a Chancellor or a government that's in office, but not in power. They

1:09:16 > 1:09:21didn't seem to be capable of doing anything and the bar that was set

1:09:21 > 1:09:27for the Chancellor, was we were told this would be a revolutionary Budget

1:09:27 > 1:09:33or major change, the bar was set where it was don't mess up. That's

1:09:33 > 1:09:38all he has done. A nothing Budget really.A few minutes ago I was

1:09:38 > 1:09:42talking to the Federation of Small Businesses and the CBI and they were

1:09:42 > 1:09:45both remarkably upbeat. The Federation of Small Businesses says

1:09:45 > 1:09:48there is plenty in here for to us get our teeth into and we are

1:09:48 > 1:09:52pleased with what he has announced? They are trying to look on the

1:09:52 > 1:09:55bright side. I can understand that, but take stamp duty, cutting stamp

1:09:55 > 1:09:58duty, whilst you are not building houses on any scale, means prices

1:09:58 > 1:10:02will go up. And it looks as though the figures that the Government have

1:10:02 > 1:10:08put in for the stamp duty cut were a small number, a few thousand people

1:10:08 > 1:10:12at best. On the housing, it looks as if most of it is that

1:10:12 > 1:10:16reannouncements rather than any rebuilds.There was a commitment to

1:10:16 > 1:10:21build many more houses by the mid-2020s.He is aiming for 300,000

1:10:21 > 1:10:25by 2025. All of this today was about something projected for the future

1:10:25 > 1:10:29and remember when we had starter homes announced a few years ago,

1:10:29 > 1:10:36200,000, not a single one has been built. So, you will pardon me if I'm

1:10:36 > 1:10:41sceptical about the announcements today.There is a housing review and

1:10:41 > 1:10:44Oliver Letwin will be reviewing that It is all jam tomorrow and I can't

1:10:44 > 1:10:47see anything realistic coming out of this Budget today. That will affect

1:10:47 > 1:10:51the housing crisis that he have with' got. The crisis in education,

1:10:51 > 1:10:54the crisis in our NHS and do you know one of the things that was

1:10:54 > 1:10:56missing today was local councils have been saying vulnerable

1:10:56 > 1:11:01children, they need to £2 billion to protect our children. Not a penny.

1:11:01 > 1:11:04What would you doing differently? How would you improve things as you

1:11:04 > 1:11:08would wish them to be improved? Well, we set out in our manifesto at

1:11:08 > 1:11:11the election and in the grey book that costed our programme. The first

1:11:11 > 1:11:14thing we would do is stop giving away the tax cuts to the

1:11:14 > 1:11:18corporations and the rich. Over the next Parliament £76 billion is

1:11:18 > 1:11:23promised to the corporations and to the rich in tax cuts. We would stop

1:11:23 > 1:11:27that and invest that in the NHS and our public services and giving

1:11:27 > 1:11:32people a proper pay rise.But is that money there? Have you managed

1:11:32 > 1:11:35to convince the electorate that you can pay for all the ambitious

1:11:35 > 1:11:39projects?Well, it is interesting I'm quoting at you government

1:11:39 > 1:11:42figures. They are the figures that the Government has put in giving the

1:11:42 > 1:11:46money away to the corporations and the rich. I can use those tax cuts

1:11:46 > 1:11:50to invest in public services. Have I convinced people? Increasingly yes.

1:11:50 > 1:11:56We are ahead in the opinion polls and even on economic...Not on

1:11:56 > 1:12:01trust?Let me say that, yesterday there was one poll where we are

1:12:01 > 1:12:06almost neck and neck and that's the first time the history of a party in

1:12:06 > 1:12:09opposition at this scale, without a major economic crisis when the

1:12:09 > 1:12:13Government is in power.OK, almost neck and neck, but by the same token

1:12:13 > 1:12:16there will be people watching this saying it is a weak government. This

1:12:16 > 1:12:19is a government that reduced its majority at a general election it

1:12:19 > 1:12:25didn't need to call actually, you should be way ahead?No. Oppositions

1:12:25 > 1:12:28have never been way ahead unless there was a huge economic crash and

1:12:28 > 1:12:35that's what happened after ERM in the 1990s and that's what happened

1:12:35 > 1:12:39after the banking crash in 2007, 2008. We are steadily surely, but

1:12:39 > 1:12:44surely, demonstrating an alternative to this government and gaining

1:12:44 > 1:12:48confidence in the electorate as we showed in the general election when

1:12:48 > 1:12:52everyone said we would be wiped out and now we are ahead in the polls

1:12:52 > 1:12:56overall and now we are gaining on economic credibility and this Budget

1:12:56 > 1:12:58today will assist us in demonstrating that there is an

1:12:58 > 1:13:02alternative to a do nothing Budget like today.

1:13:02 > 1:13:07£3 billion set aside for Brexit preparations. Is the country Brexit

1:13:07 > 1:13:11ready after today's Budget?Well, we won't be Brexit ready until we get a

1:13:11 > 1:13:14negotiated deal. This government seems incapable of achieving that

1:13:14 > 1:13:18deal and the reason for that is because they are so split within the

1:13:18 > 1:13:21Cabinet and within the Tory Party. Now what we are saying to them, you

1:13:21 > 1:13:23need to start negotiating effectively and if you are not

1:13:23 > 1:13:30willing to do that, we will. What would you be doing right now if

1:13:30 > 1:13:35you were in number 11. How would you be dealing with the for example the

1:13:35 > 1:13:39OBR growth forecast now? I have interviewed some who said they think

1:13:39 > 1:13:43the OBR is being too pessimistic, but the forecast is what it is and

1:13:43 > 1:13:53it is sliding down. How would you tackle that?In the past the OBR has

1:13:53 > 1:13:58been pest mystic rather than optimistic. We would ensure we

1:13:58 > 1:14:01invest in our economy and ensure we have a fair taxation system and pay

1:14:01 > 1:14:07for our public services. If you invest in the economy, you will grow

1:14:07 > 1:14:11the public services.An increase in taxes?No, what we said is end the

1:14:11 > 1:14:15tax to the rich and the corporation. Yes, an increase in taxes for the

1:14:15 > 1:14:20top 5%, that's all the richest 5% and then at the same time, we don't

1:14:20 > 1:14:23borrow for day-to-day expenditure, but we borrow to invest and that

1:14:23 > 1:14:26means investing in our infrastructure and the reason we

1:14:26 > 1:14:29have got a productivity crisis is because for seven years we haven't

1:14:29 > 1:14:33invested in the same way our economic international competitors

1:14:33 > 1:14:36have.John McDonnell, Shadow Chancellor, thank you very much

1:14:36 > 1:14:41indeed for joining us. Thank you very much for your responses.

1:14:41 > 1:14:48Let's head inside and Vicki Young is in the lobby. This is where MPs are

1:14:48 > 1:14:51digesting what they have heard. You can hear the headlines, and then

1:14:51 > 1:14:57people want to know and read about the details. Let's discuss this

1:14:57 > 1:15:06more. Ism joined by Oliver Letwin from the Conservative Party. Oliver

1:15:06 > 1:15:11Letwin, what is the purpose of this review? It is about trying it get

1:15:11 > 1:15:14more houses built?It is about trying to find out why there are

1:15:14 > 1:15:17large numbers of planning permissions given for homes that

1:15:17 > 1:15:21haven't been built yet. Why the developers are sitting there

1:15:21 > 1:15:23developing only parts of sites which they have got permission and this

1:15:23 > 1:15:26has been a knotty issue for a long time. We're going to try and find

1:15:26 > 1:15:29out why it really is happening and if it's something we can do

1:15:29 > 1:15:31something about then the Government will take action to do something

1:15:31 > 1:15:37about it so we get some more homes built rather than having people

1:15:37 > 1:15:39watching other sites getting planning permission while a big site

1:15:39 > 1:15:44is sitting there empty.You think that housing is an issue which the

1:15:44 > 1:15:51Government should be more interventionist on?It has to be,

1:15:51 > 1:15:56cars, you don't hear about affordable hamburgers or affordable

1:15:56 > 1:15:59cars because supply and demand match. The reason they don't match

1:15:59 > 1:16:03in the housing market is because we have a massive planning system and

1:16:03 > 1:16:06we have got to make sure it works and when planning permission is

1:16:06 > 1:16:10given the houses are built.Caroline Lucas, what do you make of the

1:16:10 > 1:16:14housing announcements?I am not sure we need a review frankly. There is

1:16:14 > 1:16:18no great mystery to the fact that we know developers will sit on land

1:16:18 > 1:16:21while it speculates, that's the trouble with our property market so

1:16:21 > 1:16:26many people are in the for the speculation. What I was hoping to

1:16:26 > 1:16:29see was a serious investment in affordable housing and we also need

1:16:29 > 1:16:33to underline the word affordable because unfortunately under this

1:16:33 > 1:16:37government they have redefined affordable to mean 80% of market

1:16:37 > 1:16:42rent. For my constituents in Brighton, 80% of market rate is not

1:16:42 > 1:16:46affordable. So that's what we needed to see.Jonathan Edwards as far as

1:16:46 > 1:16:52the stamp duty help for first-time buyers goes, it will apply to Wales

1:16:52 > 1:16:58for a short amount of time?With this announcement, it means six

1:16:58 > 1:17:01months that this policy will apply and the Welsh government will be

1:17:01 > 1:17:06able to introduce their own policies. But the big issue for

1:17:06 > 1:17:12Wales, of course, we saw Crossrail 2 mooted, the Milton Keynes

1:17:12 > 1:17:15development, and nothing specifically for Wales. They've

1:17:15 > 1:17:20scrapped electrifying the line to Swansea, the tidal lagoon in Swansea

1:17:20 > 1:17:24wasn't mentioned. In the British Government isn't going to invest in

1:17:24 > 1:17:29Wales, why don't they give us the tools to get on with it ourselves?

1:17:29 > 1:17:34£3 billion so we are ready for Brexit?Well, I think this was the

1:17:34 > 1:17:37whole context for this Budget and seeing yet more money having to be

1:17:37 > 1:17:41set aside for Brexit I think is a distraction. We would love to see it

1:17:41 > 1:17:45being turned into public services. Frankly, what I would love to have

1:17:45 > 1:17:51seen and heard was a policy that would have kept us in the single

1:17:51 > 1:17:55market and the customs union, that's to make sure our economy doesn't

1:17:55 > 1:17:59take a hit. There is a crisis out there this terms of austerity and

1:17:59 > 1:18:03this Budget did nothing to tackle that. On schools, I have got

1:18:03 > 1:18:09headteachers who are desperate in Brighton because they are having to

1:18:09 > 1:18:14make teachers redundant and Teaching Assistants redundant and cutting

1:18:14 > 1:18:16mental health support to students. Why are we not able to fund our

1:18:16 > 1:18:22schools properly? That's a real indictment on the GovernmentHas

1:18:22 > 1:18:25your government given up on balancing the books?He is spending

1:18:25 > 1:18:32money on the NHS which needed it and that's a good thing. But if you look

1:18:32 > 1:18:35at the independent OBR forecast what you see is that this Budget sets us

1:18:35 > 1:18:41on a track to reduce the deficit to 1% of GDP by the time we get to the

1:18:41 > 1:18:45end of the Parliament and that's a balanced Budget and it needs to be

1:18:45 > 1:18:48because we don't know what shocks will arrive in the world after 2020.

1:18:48 > 1:18:52We must leave it there, but a lot to discuss with Philip Hammond,

1:18:52 > 1:18:57speaking for more than an hour, but I think, you know, housing mrb the

1:18:57 > 1:19:00headlines of the day -- will be the headlines of the day for the

1:19:00 > 1:19:06Government. Let's talk about the NHS. The

1:19:06 > 1:19:11Chancellor announced day,al funding for the Health Service in England.

1:19:11 > 1:19:16Let's hear a little bit of what he said about that.First, we will

1:19:16 > 1:19:20deliver an additional £10 billion package of capital investment in

1:19:20 > 1:19:26front line services over the course of this Parliament. To support the

1:19:26 > 1:19:29sustainability and transformation plans which will make our NHS more

1:19:29 > 1:19:35resilient. Investing for an NHS fit for the future. But we also

1:19:35 > 1:19:41recognise that the NHS is under pressure right now. I am therefore

1:19:41 > 1:19:45exceptionally and outside the Spending Review process making an

1:19:45 > 1:19:50additional commitment of resource funding of £2.8 billion to the NHS

1:19:50 > 1:19:56in England. £350 million immediately to allow trusts to plan for this

1:19:56 > 1:20:04winter. £1.6 billion in 2018/2019 with the balance in 1920, taking the

1:20:04 > 1:20:19extra resource into the NHS next year to £3.75 billion in total.

1:20:19 > 1:20:23Meaning Mr Deputy Speaker, meaning that our NHS will receive a £7.5

1:20:23 > 1:20:27billion increase to its resource Budget over this year and next.

1:20:27 > 1:20:32So those are the figures that were announced. Let's find out what the

1:20:32 > 1:20:37Director of Policy at NHS providers makes of them. Simon Stevens, the

1:20:37 > 1:20:40head of the NHS in England wanted the figure of £4 billion. What do

1:20:40 > 1:20:44you make of what was announced there?I think what we have seen

1:20:44 > 1:20:47today is an announcement which is less than we think the NHS needs,

1:20:47 > 1:20:50but it's more than we expected given all the chatter around the Budget

1:20:50 > 1:20:54over the last week or so. I think what we have got to remember here is

1:20:54 > 1:20:58that the NHS as a whole is under huge pressure. So this isn't just

1:20:58 > 1:21:02about hospitals and waiting times, it's about mental health services,

1:21:02 > 1:21:05it's about community services, it's about Ambulance Services, so, it's

1:21:05 > 1:21:10about the whole package and how we support them and what we do know is

1:21:10 > 1:21:14that with the level of additional funding available, I think, what we

1:21:14 > 1:21:21will see is the NHS struggling to maintain and improve the quality of

1:21:21 > 1:21:25the service it provides.The bottom line is the figure from Simon

1:21:25 > 1:21:28Stevens, he says given the demand and our expectation, all of us play

1:21:28 > 1:21:32a part in this, that's the figure that's needed?There are many

1:21:32 > 1:21:35different opinions on the figures that are needed and think-tanks have

1:21:35 > 1:21:38come out with a figure he signed up, but it is really important to

1:21:38 > 1:21:41remember that we do need a substantial investment in the NHS.

1:21:41 > 1:21:45It's not just about revenue investment, ie the day-to-day

1:21:45 > 1:21:48running costs, but it's about capital investment as well. There

1:21:48 > 1:21:52was some announcement around that. I think we need to pick underneath the

1:21:52 > 1:21:56detail of that to see what that really means.I think it was £10

1:21:56 > 1:21:59billion on capital, for capital spending?This is about what we

1:21:59 > 1:22:08spend on the bricks and mortar, and things like IT. What we are seeing

1:22:08 > 1:22:12is, I think, £3 billion of additional investment over five

1:22:12 > 1:22:16years, but also, money from land sales over time as well. So it's not

1:22:16 > 1:22:20all new money. It will come from land sales which is already in

1:22:20 > 1:22:23property that's already in the NHS. It's really, really important that

1:22:23 > 1:22:28we have that as well because all while the estate of the NHS

1:22:28 > 1:22:30deteriorates then obviously that impacts on the quality of service

1:22:30 > 1:22:34that we can provide. It's a whole package of measures there that we

1:22:34 > 1:22:38need to see investment in.There is some movement on pay specifically

1:22:38 > 1:22:42for nurses. We don't have all the detail on that, but your thoughts on

1:22:42 > 1:22:47what we know so far?So what we know so far the Chancellor has said that

1:22:47 > 1:22:52the lifting of the pay cap for nurses and other what's called

1:22:52 > 1:22:55Agenda for Change staff, other health care professionals will be

1:22:55 > 1:22:59funded by the Government. This is very welcome. We were, we were

1:22:59 > 1:23:02worried that what might happen is that that came out of existing

1:23:02 > 1:23:06budgets for the NHS. The Government has said that they will give new

1:23:06 > 1:23:10money for that subject to what the pay review body which is an

1:23:10 > 1:23:12independent body which listens to evidence says about what the level

1:23:12 > 1:23:15of pay should be for nurses and other health care staff, but yes

1:23:15 > 1:23:19that is a very welcome announcement and we need it for recruitment and

1:23:19 > 1:23:24retention of nurses and other staff. It is vital.

1:23:24 > 1:23:30Thank you very much indeed. Doubtless more analysis of what it

1:23:30 > 1:23:34means for the NHS over the course of the day. Let's talk about housing as

1:23:34 > 1:23:37well. The Chancellor said that getting on to the housing ladder

1:23:37 > 1:23:42shouldn't just be a dream for young people, but should be a reality for

1:23:42 > 1:23:46their future. He announce that had stamp duty for all first-time buyers

1:23:46 > 1:23:52is being abolished for any property worth up to £300,000.

1:23:52 > 1:23:57By continuing to invest in Britain's infrastructure, skills, and R & D,

1:23:57 > 1:24:01we will ensure the recovery and productivity growth that is the key

1:24:01 > 1:24:05to delivering our vision of a stronger, fairer, more balanced

1:24:05 > 1:24:09economy and the assurance to the next generation of their economic

1:24:09 > 1:24:13security. But however successful we are in

1:24:13 > 1:24:17that endeavour, there is one area where young people today will

1:24:17 > 1:24:21rightly feel concerned about their future prospects and that is in the

1:24:21 > 1:24:26housing market. House prices are increasingly out of reach for many.

1:24:26 > 1:24:32It takes too long to save for a deposit and rents absorb too high a

1:24:32 > 1:24:38portion of monthly income. So the number of 25 to 34-year-olds owning

1:24:38 > 1:24:45their own home has dropped from 59% to just 38% over the last 13 years.

1:24:45 > 1:24:50Put simply, successive governments over decades have failed to build

1:24:50 > 1:24:53enough homes to deliver the home owning dream that this country has

1:24:53 > 1:24:59always been proud of or indeed, to meet the needs of those who rent. In

1:24:59 > 1:25:03Manchester a few weeks ago, the Prime Minister made a pledge to

1:25:03 > 1:25:07Britain's younger generation that she would dedicate her premiership

1:25:07 > 1:25:12to fixing this problem and today we take the next steps to delivering on

1:25:12 > 1:25:18that pledge. By choosing to build. We send a message to the next

1:25:18 > 1:25:21generation that getting on the housing ladder is not just a dream

1:25:21 > 1:25:28of your parents past, but a reality for your future.

1:25:28 > 1:25:34So again, a little of the part of the announcement about housing.

1:25:34 > 1:25:49Let's discuss that. Joanne Fry has joined me. The CEO of Pocket Living

1:25:49 > 1:25:53has joined me. A warm welcome to all of you tonight. Thank you very much.

1:25:53 > 1:25:57Mark, halfs positive. What do you take away from the Budget that's

1:25:57 > 1:26:01positive for you?Two things. For the first time buyer the stamp duty

1:26:01 > 1:26:04decision really does make a difference. If you're buying a home

1:26:04 > 1:26:08at £300,000 or less, with Help To Buy, you would have had to pay

1:26:08 > 1:26:14£15,000 deposit. So if you are not having to pay stamp duty, you are

1:26:14 > 1:26:17saiflg £5,000. That's a meaningful difference. Homes England will make

1:26:17 > 1:26:21a big difference. It is the first time we have seen government trying

1:26:21 > 1:26:25to integrate the complexity of public land of planning and of

1:26:25 > 1:26:30delivery and that's a good sign.On the first time buyer point, we are

1:26:30 > 1:26:34hearing the forecast that actually after the initial flurry, it

1:26:34 > 1:26:39benefits someone who is already a homeowner because it becomes

1:26:39 > 1:26:43inflationary over the longer term? Yes, I think that's right. It is a

1:26:43 > 1:26:48real risk that actually the change this stamp duty will simply result

1:26:48 > 1:26:51in higher prices and there is evidence of that in the past. What I

1:26:51 > 1:26:55would say about the Budget is that it is a move in the right direction

1:26:55 > 1:26:59on some key issues. The question is, are the measures adequate to the

1:26:59 > 1:27:02challenge that we face in this country? I think that's a question

1:27:02 > 1:27:07that where the jury is still out. Because the target for house

1:27:07 > 1:27:10building, even trying to get to the point that most charities and

1:27:10 > 1:27:15authorities on this say is needed, somewhere between 250,000 and

1:27:15 > 1:27:20300,000, that Green Party is not until the mid-2020s.Well, it isn't,

1:27:20 > 1:27:24we are talking about 250 until the end of this Parliament. It is not

1:27:24 > 1:27:27£44 billion of new money, quite a lot of that is already in the

1:27:27 > 1:27:32programme. So there is some new money, some new guarantees, but I

1:27:32 > 1:27:36think the area that's most lacking is the commitment to new social

1:27:36 > 1:27:41housing and in particular, the role of local authorities and indeed,

1:27:41 > 1:27:44housing associations like Peabody where we think we can do more than

1:27:44 > 1:27:49we're doing at the moment.You could do more if you had the funding?You

1:27:49 > 1:27:54if the funding and the land and land is a crucial factor here. We need

1:27:54 > 1:27:58land to build on and we need to unlock sites across the country to

1:27:58 > 1:28:03build the housing that's needed. The key point is even if we build more

1:28:03 > 1:28:09houses for sale, we will still see prices high. So, we have to build

1:28:09 > 1:28:12affordable, social housing at the same time. The Government have

1:28:12 > 1:28:16recognised that. I don't think they have gone far enough yet.Joanne,

1:28:16 > 1:28:21you're nodding.I agree. This announcement about building the

1:28:21 > 1:28:25300,000 more homes that we need each year, but where the homes going to

1:28:25 > 1:28:28be? Are they going to be in the areas of most need? Are they going

1:28:28 > 1:28:35to be affordable? How are we going to ensure that? And without lifting

1:28:35 > 1:28:39the cap on council borrowing, how are councils going to fit into this

1:28:39 > 1:28:45picture and provide as you say more social housing?Yes, have any of you

1:28:45 > 1:28:49perhaps, but is there any more clarity around the role that housing

1:28:49 > 1:28:52associations and councils can play here? This has been a growing

1:28:52 > 1:28:56problem. We have been talking about this for many years now and there

1:28:56 > 1:29:00doesn't seem to be any movement on that.There is a recognition that

1:29:00 > 1:29:04there is a role for housing associations and local authorities.

1:29:04 > 1:29:10So, the Government do say we need more housing of affordable type. But

1:29:10 > 1:29:13I think, they really could have got this going with rocket boosters had

1:29:13 > 1:29:17they given local authorities the powers to borrow. In the end they

1:29:17 > 1:29:22have given them £1 billion to bid for. Welcome because it's a step in

1:29:22 > 1:29:27the right direction, but question mark, not really enough.For example

1:29:27 > 1:29:31the Government took the housing association borrow ago you have the

1:29:31 > 1:29:35budget sheet so that doesn't appear as public sector debt.Yes.If they

1:29:35 > 1:29:39had done the same thing for councils then we would have more freedom and

1:29:39 > 1:29:43we would be able to contribute a lot more to this.

1:29:43 > 1:29:45The slight problem with all this, you are always looking for

1:29:45 > 1:29:50government to come up with a mixed balance diet of initiatives to help

1:29:50 > 1:29:53lots of people in society engage with housing and one of the problems

1:29:53 > 1:29:59that we have in the housing market in the UK it is a po parised debate

1:29:59 > 1:30:01between social housing and open market housing and one of the things

1:30:01 > 1:30:04the Government is trying to say and I think they're right to do so,

1:30:04 > 1:30:07there is a large middle market of people who are squeezed out and they

1:30:07 > 1:30:14also need some priority. So we shouldn't just fall back upon the

1:30:14 > 1:30:20old debate of social versus private housing.They are squeezed out

1:30:20 > 1:30:23because property is unaffordable. The private rented sector has

1:30:23 > 1:30:26doubled in the last decade. The Government have moved to a more

1:30:26 > 1:30:30balanced approach. That's welcome. The question is have they recognised

1:30:30 > 1:30:35how much more housing associations and local authorities can contribute

1:30:35 > 1:30:39to their number, 250 to 300,000 and I think that's where there is more

1:30:39 > 1:30:45to do.I aGreen Paper.There is more to do in terms of housing need. We

1:30:45 > 1:30:52haven't seen how to ease pressures and for people who are living in the

1:30:52 > 1:30:56private rented sector.

1:30:57 > 1:31:03I'm sorry begun to wonder because there were so much more to discuss.

1:31:03 > 1:31:08Thank you so much for being with us here this evening. A number of times

1:31:08 > 1:31:09this evening throughout his speech

1:31:09 > 1:31:10this evening throughout his speech the Chancellor referred to his

1:31:10 > 1:31:13vision of the future, he said he wanted young people growing up today

1:31:13 > 1:31:20to have a sense of boundless opportunity.We are listening, and

1:31:20 > 1:31:24we are understand the frustration of families were real incomes are under

1:31:24 > 1:31:30pressure. At this budget we choose a balanced approach. Yes, maintaining

1:31:30 > 1:31:42fiscal responsibility as we last see our debt Peking.LAUGHTER

1:31:42 > 1:31:48Continuingbuilding the homes that will make good on our promise to the

1:31:48 > 1:31:51next generation but crucially also helping families to cope with the

1:31:51 > 1:31:59cost of living. As we invest in our country's future, I have a clear

1:31:59 > 1:32:03vision of what that global Britain looks like. A prosperous and

1:32:03 > 1:32:10inclusive economy. Where everybody has the opportunity to shine. Where

1:32:10 > 1:32:15ever in these islands they live and whatever their background. Where

1:32:15 > 1:32:20talent and hard work are rewarded, where the dream of home ownership is

1:32:20 > 1:32:27a reality for all generations. A hub of enterprise and innovation, a

1:32:27 > 1:32:30beacon of creativity, a civilised and tolerant place that cares for

1:32:30 > 1:32:37the vulnerable and nurtures the talented. An outward looking free

1:32:37 > 1:32:44trading nation, a force for good in the world.

1:32:44 > 1:32:47That IS now talk to Jasmine Bertelsen has just joined me, very

1:32:47 > 1:32:53busy afternoon out here on college green. Thank you for squeezing your

1:32:53 > 1:32:57way in, personal finance expert, Jasmine. In terms of people managing

1:32:57 > 1:33:03your finance, your area of expertise for what has to thou fear from the

1:33:03 > 1:33:07Chancellor had to say? Anything positive?It is a good point because

1:33:07 > 1:33:11actually I think very little came out, in terms of people's personal

1:33:11 > 1:33:20finance, day-to-day, if you are earning, there is a slight increase

1:33:20 > 1:33:23in the tax threshold.The amount you can then going up very slightly from

1:33:23 > 1:33:30April next year for stopfrom 11,500 to 11,850, so an extra little bit we

1:33:30 > 1:33:36can have under higher rate tax threshold going up a little bit more

1:33:36 > 1:33:41by one and a bit thousand pounds. A tiny bit. In a way what was sort of

1:33:41 > 1:33:46most notable is what wasn't done. There was nothing much said about

1:33:46 > 1:33:49pensions and that was a worry, a lot of people were worried, people who

1:33:49 > 1:33:53are putting money into their pensions, they were worried that the

1:33:53 > 1:33:57tax-free level would be brought back. So that is not there. There is

1:33:57 > 1:34:01a little bit of help certainly the people who are on benefits, the

1:34:01 > 1:34:05Universal Credit changes, I think that was positive. But again it is

1:34:05 > 1:34:09not huge, not a huge difference. Generally speaking, there was not

1:34:09 > 1:34:14very much at all about wages. Nothing very much about changing the

1:34:14 > 1:34:23price of things. On the whole business as usual.And a freeze on

1:34:23 > 1:34:30fuel duty, something before the February much. For businesses.Apart

1:34:30 > 1:34:33from white cider, nothing on the booze and fags, that is the bit we

1:34:33 > 1:34:38tend to have a look at, is there going to be a move there? They

1:34:38 > 1:34:42haven't really been any moves for the last few years on those. And

1:34:42 > 1:34:45petrol. Generally speaking apart from those big lumps, the whole

1:34:45 > 1:34:54thing about housing the George Hewett such the country. These big

1:34:54 > 1:35:01moves. In terms of day-to-day personal finance, very little in

1:35:01 > 1:35:07terms of a change I think.As you suggest, so much focus on housing

1:35:07 > 1:35:12today and it is striking how quickly the debate has shifted because there

1:35:12 > 1:35:15is that initial positivity about first-time buyers. We talk about it

1:35:15 > 1:35:22a lot. You won't have to pay Stanciu T on any property up to 300,000, and

1:35:22 > 1:35:26more in some parts of the country. Already people starting to crunch

1:35:26 > 1:35:30the numbers and saying that over time that is actually inflationary.

1:35:30 > 1:35:37Those fast time buyers, it sounds positive at the beginning but it

1:35:37 > 1:35:42might benefit the person selling the house.I have already heard

1:35:42 > 1:35:46millennials a big deal for that very reason. It is one of those things

1:35:46 > 1:35:51meant well. You can see the politics behind this. A huge number of the

1:35:51 > 1:36:00lonely all is so it is a big deal for the Tory party. They need to

1:36:00 > 1:36:03bring them back and frankly I don't think this will. That is not enough.

1:36:03 > 1:36:07At least at the moment may be of the raft of changes he has mentioned in

1:36:07 > 1:36:11terms of housing, freeing up land, making sure empty properties get

1:36:11 > 1:36:17filled and increasing the number of houses built, maybe in time that

1:36:17 > 1:36:23will make the young people happier. But as you say, with the stamp duty,

1:36:23 > 1:36:27it could actually make the prices go up. So they are really not going to

1:36:27 > 1:36:32be pleased with that, even if they do get their cut place Railcard

1:36:32 > 1:36:37again.And it doesn't have you find the deposit in the first place.Too

1:36:37 > 1:36:42little too late is what a lot of them will be saying.Thank you very

1:36:42 > 1:36:49much. You can find out much more about how the budget affects you

1:36:49 > 1:36:58whatever your position. And send in your questions.

1:37:00 > 1:37:07You can text us your questions. There will be a special session at

1:37:07 > 1:37:218:30pm. Whatever the issue that concerns you is, sent through your

1:37:21 > 1:37:27questions. More from Westminster in the next little while, right now

1:37:27 > 1:37:38back to ritual in the studio.

1:37:41 > 1:37:43We'll be back in Westminster shortly but first some other news.

1:37:43 > 1:37:46The former Bosnian Serb army commander Ratko Mladic has been

1:37:46 > 1:37:48found guilty of genocide and crimes against humanity during the Bosnian

1:37:48 > 1:37:50war more than 20 years ago.

1:37:50 > 1:37:52The 74-year-old has been sentenced to life in prison

1:37:52 > 1:37:55by an international court at The Hague after a trial that

1:37:55 > 1:37:56has lasted six years.

1:37:56 > 1:37:58The judge said his crimes figured amongst the most heinous

1:37:58 > 1:37:59type known to humankind.

1:37:59 > 1:38:08From the Hague, Anna Holligan reports.

1:38:08 > 1:38:10In the last hour, Zimbabwe's former Vice-President Emmerson Mnangagwa

1:38:10 > 1:38:13has arrived back in the country, following Robert Mugabe's surprise

1:38:13 > 1:38:14resignation yesterday.

1:38:14 > 1:38:17He will be sworn in as Zimbabwe's new head of state on Friday.

1:38:17 > 1:38:20Mr Mnangagwa who was sacked by Mugabe just a fortnight ago -

1:38:20 > 1:38:22which triggered the President's demise - will be sworn

1:38:22 > 1:38:24in as Zimbabwe's new head of state on Friday.

1:38:24 > 1:38:26Mr Mugabe's resignation yesterday sparked wild celebrations

1:38:26 > 1:38:31across the country late into the night.

1:38:31 > 1:38:35Two weeks ago he was that power struggle with Grace Mugabe and he

1:38:35 > 1:38:39said feared for his life. He thought he would be eliminated effectively

1:38:39 > 1:38:44by the Mugabes. That is why he ran and cross the border to Mozambique,

1:38:44 > 1:38:48today he has come back. Nicknamed the crocodile. They are saying that

1:38:48 > 1:38:53the crocodile is back. He has arrived back at a military airbase,

1:38:53 > 1:38:58he will be sworn in on Friday as the new president of Zimbabwe, only its

1:38:58 > 1:39:04second leader in 30 years. After the news that Robert Mugabe was

1:39:04 > 1:39:08resigning we had all of the euphoria, and we have seen that

1:39:08 > 1:39:17starting to fadeand people asking questions

1:39:17 > 1:39:24about Mr Mnangagwa. He is accused of human rights abuses, critics say he

1:39:24 > 1:39:29has rigged elections, he has been systematically corrupt. Other people

1:39:29 > 1:39:33say when it comes to the economy here is a reformer. So don't quite

1:39:33 > 1:39:37what to expect, he is we think in the next few minutes going to be

1:39:37 > 1:39:48addressing supporters at the ruling partythank you very much for now.

1:39:48 > 1:39:50The BBC Understands that the London Metropolitan Police

1:39:50 > 1:39:52are investigating the Hollywood star Kevin Spacey over a second

1:39:52 > 1:39:53alleged sexual assault.

1:39:53 > 1:39:56The date of the allegation, believed to be back in 2005,

1:39:56 > 1:39:58took place in Lambeth, the location of the Old Vic theatre

1:39:58 > 1:40:04where Spacey was artistic director.

1:40:04 > 1:40:06The UK's information Commissioner has expressed 'huge concerns'

1:40:06 > 1:40:08about the ethics and policies of the mini cab service

1:40:08 > 1:40:10Uber after the company admitted concealing

1:40:10 > 1:40:17a massive security breach.

1:40:17 > 1:40:20The breach, which took place in October last year affected

1:40:20 > 1:40:2257 million of Uber's customers and drivers around the world.

1:40:22 > 1:40:24It's emerged that Uber paid the hackers £75,000

1:40:24 > 1:40:26to delete the data - which included customers

1:40:26 > 1:40:31names, email addresses and mobile phone numbers.

1:40:31 > 1:40:34The American actor and 70s teen idol David Cassidy has died aged 67.

1:40:34 > 1:40:37He found fame in the sitcom The Partridge Family,

1:40:37 > 1:40:39then enjoyed a hugely successful music career, selling more

1:40:39 > 1:40:47than 30 million records worldwide.

1:40:47 > 1:40:49He was admitted to hospital in Florida last week

1:40:49 > 1:40:54with multiple organ failure.

1:40:54 > 1:40:57Let's return to the budget. Some of the key economic data unveiled by

1:40:57 > 1:41:04the Chancellor. That IS joint ritual horn to get more on what all this

1:41:04 > 1:41:05means.

1:41:07 > 1:41:11Balance the books, that was the Chancellor's aim, so did he deliver?

1:41:11 > 1:41:14Let's start with the deficit. That is the difference between the amount

1:41:14 > 1:41:17of money that government brings in through taxes and the amount it

1:41:17 > 1:41:22spends running the country. Back in March, the OBR, the official

1:41:22 > 1:41:27government watchdog, predicted this is how the deficit would pan out.

1:41:27 > 1:41:31With a government borrowing up to £58 billion this year and that

1:41:31 > 1:41:38figure falling as the years go on down to almost £17 billion in 2022.

1:41:38 > 1:41:42The latest update from the OBR gives some good news for 2017 with

1:41:42 > 1:41:46borrowing actually coming in more than £8 billion less than expected,

1:41:46 > 1:41:50and continuing to fall. But look at this, it is not falling by as much

1:41:50 > 1:41:54as was predicted back in March. One easy way for any Chancellor to bring

1:41:54 > 1:41:59down the deficit is through a robust and growing economy. In March, the

1:41:59 > 1:42:04OBR predicted the UK would grow by 2% in 2017. But today that figure

1:42:04 > 1:42:12has been revised down to 1.5%. Falling to 1.3% by 2019 before

1:42:12 > 1:42:21inching up to 1.6% in 2022. Is that robust enough? Let's asked the city.

1:42:21 > 1:42:25It isn't, it actually moves the UK from being a leader amongst the G-7

1:42:25 > 1:42:32at the back end of 2016 to now being lifeguard. The important backdrop to

1:42:32 > 1:42:35this is the fact that the rest of the GDP growth is accelerating over

1:42:35 > 1:42:43the period. This growth accelerates in the Eurozone, the US. In the UK

1:42:43 > 1:42:46it is going in the opposite direction, so we expect sterling to

1:42:46 > 1:42:50be under pressure as people look at that difference and trajectory and

1:42:50 > 1:42:54concludes the UK is not the place where they want to hold assets.So

1:42:54 > 1:42:59what is the problem? Part of it is productivity, the measure of how

1:42:59 > 1:43:03much stuff we can make. The more people produce, the more their

1:43:03 > 1:43:06employers compare them, the more taxes the government can collect and

1:43:06 > 1:43:12the more disposable income we have to spend, but the UK has a serious

1:43:12 > 1:43:22productivity problem.

1:43:32 > 1:43:41The predicted .9% of this year rising to 1.2% in 2022.This is

1:43:41 > 1:43:45something that was looking well over June. The OBR have been stubbornly

1:43:45 > 1:43:48expecting productivity to pick back up to where we were pre-financial

1:43:48 > 1:43:54crisis. That is just clearly not happening. At least these figures

1:43:54 > 1:43:58have a bit more semblance of reality about them. It is still a conundrum

1:43:58 > 1:44:03and a problem for the Bank of England and for the economy as a

1:44:03 > 1:44:08whole that productivity is so low. That is just a reflection of the

1:44:08 > 1:44:16type of jobs that have been created in the economy.So productivity and

1:44:16 > 1:44:19GDP growth both downgraded, the Chancellor is still cutting the

1:44:19 > 1:44:23deficit but six months on from the last OBR report he has a lot less

1:44:23 > 1:44:30wiggle room. Rachel. Thanks through much indeed. Let's return to my

1:44:30 > 1:44:35colleague Jane Hill at Westminster to get more budget reaction.

1:44:35 > 1:44:35We to get more budget reaction.

1:44:35 > 1:44:38We heard to get more budget reaction.

1:44:38 > 1:44:39We heard the to get more budget reaction.

1:44:39 > 1:44:39We heard the Chancellor to get more budget reaction.

1:44:39 > 1:44:40We heard the Chancellor announced to get more budget reaction.

1:44:40 > 1:44:40We heard the Chancellor announced 3 to get more budget reaction.

1:44:40 > 1:44:41We heard the Chancellor announced 3 billion for Brexit preparations.

1:44:41 > 1:44:44Let's discussed that and more with Jill Rutter from the Institute for

1:44:44 > 1:44:50government. Jill, good evening, in practical terms, do we know what

1:44:50 > 1:44:54that money is for? What is that about?We know the sort of thing

1:44:54 > 1:44:58that will go on, the Chancellor has announced he has already made

1:44:58 > 1:45:03available quite a big slug of money but he will add to that over the

1:45:03 > 1:45:07next two years with his 3 billion. He will run something that looks a

1:45:07 > 1:45:11bit like a mini spending round in January to decide who gets what. The

1:45:11 > 1:45:15sort of things that will go on, some of the preparation that needs to be

1:45:15 > 1:45:20made at the border, so we know we had the head of Revenue and Customs,

1:45:20 > 1:45:23HMRC, only a couple of days ago at the Public Accounts Committee,

1:45:23 > 1:45:27saying he really needed to start spending money now to make sure the

1:45:27 > 1:45:32systems were ready for when we had to charge customers potentially on

1:45:32 > 1:45:38trade with the European Community. Who will have to start equipping our

1:45:38 > 1:45:42regulators to deal with some of the fallout from not being part of the

1:45:42 > 1:45:45regulatory agencies, people that were moving on Monday back into

1:45:45 > 1:45:52Europe as we leave those. Home Office, the Amber Rudd has only told

1:45:52 > 1:45:56the Home Affairs Select Committee she needs to start recruiting staff

1:45:56 > 1:45:59to start processing EU nationals who need to be registered. That is all

1:45:59 > 1:46:02those sorts of practical preparations, as well as the

1:46:02 > 1:46:06pressure on departments. We have seen a real change in the profile of

1:46:06 > 1:46:09departments, civil service numbers were on a pretty consistent downward

1:46:09 > 1:46:13trend until the referendum. The other has been quite a marked tick

1:46:13 > 1:46:16up in departments having to add staff just to cope with the

1:46:16 > 1:46:23pressures of Brexit.You and I have spoken many times about the sheer

1:46:23 > 1:46:25scale of this investigation, the number of extra staff needed. You

1:46:25 > 1:46:30have outlined some of it there. Do we have any sense as to whether this

1:46:30 > 1:46:33figure is sufficient? Does the government now? It seems to be

1:46:33 > 1:46:38almost an endless creation of jobs inevitably.We obviously don't know

1:46:38 > 1:46:41whether we will get a transition or not, the government is clear it

1:46:41 > 1:46:45wants a transition from other that is not yet agreed. It affects the

1:46:45 > 1:46:48timing of the spending. We also don't know what our future

1:46:48 > 1:46:52relationship with the EU will be, it is something we hope to move on to

1:46:52 > 1:46:55start discussing in September if we get that famous verdict of

1:46:55 > 1:47:02sufficient progress. The Chancellor will allocate the first 1.5 billion

1:47:02 > 1:47:08to 2019, which Texas nearly up to the point we go, March 20 19th of

1:47:08 > 1:47:13the last quarter of 2018 19. The second 1.5 billion he is allocating

1:47:13 > 1:47:17is basically going to make decisions during next year when the nature of

1:47:17 > 1:47:20that relationship becomes a bit clearer. So he is holding that back

1:47:20 > 1:47:25for now. Not tripling it out quite with it he has been doing at this

1:47:25 > 1:47:28year but he will only give them one year's spending and then make some

1:47:28 > 1:47:31decisions much later on next year if he can about what he needs to do the

1:47:31 > 1:47:34following year. Of course what is quite interesting when you look at

1:47:34 > 1:47:37the government's figures in the Redbook is it goes 1.5, 1.5,

1:47:37 > 1:47:43nothing. So we actually have no provision in their spending numbers

1:47:43 > 1:47:47for the sort of continuing costs of managing Brexit. So that will have

1:47:47 > 1:47:51to come in spending reviews for the future.Right, more to discuss next

1:47:51 > 1:47:56time round in that case. Thank you very much, Jill Rutter. You can see

1:47:56 > 1:47:59much more reaction, plenty of analysis on the BBC website of

1:47:59 > 1:48:06course. ABC .co .uk/ news, whatever the topic you are interested in.

1:48:06 > 1:48:08Whatever you are not sure about.

1:48:13 > 1:48:19-- BBC .co .uk. For now, back to Rachel.

1:48:20 > 1:48:24We will stay in Westminster but take you to the warm indoors, we can talk

1:48:24 > 1:48:30to Vicki Young, who has the central heating and the central lobby.

1:48:30 > 1:48:33That's right, we know the Chancellor Philip Hammond was under pressure

1:48:33 > 1:48:37from some in his own party to act on several fronts, one of those of

1:48:37 > 1:48:44course being Universal Credit. He has acted today, you will set aside

1:48:44 > 1:48:48£1.5 billion over the next few years in order to write some of the things

1:48:48 > 1:48:52that his opponents but also those on his own side think were problems. I

1:48:52 > 1:48:57am joined by Iain Duncan Smith. You were one of those who was concerned

1:48:57 > 1:49:02about this, he has made some changes, which do you think are the

1:49:02 > 1:49:05most significant?Two major changes he has made which I and others were

1:49:05 > 1:49:10after because it was George Osborne who I am afraid imposed waiting days

1:49:10 > 1:49:13and took some money out of Universal Credit, so we have been campaigning

1:49:13 > 1:49:17to get it back to where we designed it. As it rolls outcome you want

1:49:17 > 1:49:22people to wait for a limited amount of time, and availability to have

1:49:22 > 1:49:26advances if they are in difficulty. He has agreed advances can go to

1:49:26 > 1:49:31100% if someone has difficulty. The other big issue he has agreed to is

1:49:31 > 1:49:35getting rid of the extra waiting days brought in by George Osborne,

1:49:35 > 1:49:38and that will help to speed up the process enormously. The one bit

1:49:38 > 1:49:42which probably will not have been noticed is the has allowed there is

1:49:42 > 1:49:45a two-week continuation of housing benefit when someone on housing

1:49:45 > 1:49:49benefit moves over on the Universal Credit. The reason for that we

1:49:49 > 1:49:53argued was that it just gives a bit more time for those on Universal

1:49:53 > 1:49:56Credit for those running it to be abducted wrap whether these people

1:49:56 > 1:49:59actually in debt already, whether they have a problem, which case they

1:49:59 > 1:50:02need to get to them and get them sorted out because Universal Credit

1:50:02 > 1:50:06does that. That two weeks will allow them to steady their incomes

1:50:06 > 1:50:09immediately and sort out their problems. There are in mind one big

1:50:09 > 1:50:14thing, it is not Universal Credit creating the debts, 60% of the old

1:50:14 > 1:50:19and RFID system have debt and arrears. This will help get them

1:50:19 > 1:50:23sorted as quickly as possible.You would have liked to have seen him go

1:50:23 > 1:50:30further, to make work pay even more. Yes, the original plan was doubled a

1:50:30 > 1:50:34bit more money in you see, it was taken out by George Osborne, he

1:50:34 > 1:50:41resigned over some of those things. But the point is last time he put

1:50:41 > 1:50:44some of the paperback down, it is really important, it helps people

1:50:44 > 1:50:48earn more, and he has dealt with issues around the roll-out, such as

1:50:48 > 1:50:51getting money to people quicker and making sure people are assessed

1:50:51 > 1:50:54properly so they don't in any way fall into debt while they are on

1:50:54 > 1:50:59Universal Credit. Those measures should help that enormously. It is

1:50:59 > 1:51:07an incredibly important programme. We have to get it absolutely rolled

1:51:07 > 1:51:13out. It is rolling out carefully and steadily.More broadly with the

1:51:13 > 1:51:16budget, are you concerned that your party, your government has given up

1:51:16 > 1:51:20on balancing the books? Philip Hammond seems to be turning the taps

1:51:20 > 1:51:29on the spending cap.Not really, he made it very clear, it shows that

1:51:29 > 1:51:33debt will fall to its lowest level now for some considerable time, and

1:51:33 > 1:51:36set to fall. The deficit is set to fall over the next three to four

1:51:36 > 1:51:41years, again the very low levels, eventually falling out altogether.

1:51:41 > 1:51:46That is still a long way off, still the middle of the next decade?But

1:51:46 > 1:51:52the plan is to get that done. What he has done today is that the actual

1:51:52 > 1:51:57three key issues. Housing is the big issue for us, decades of government

1:51:57 > 1:52:00whether Labour or Conservative have simply not manage to get enough

1:52:00 > 1:52:05homes built. So we have to get more homes built, private and public

1:52:05 > 1:52:08sector housing. His plan today with the extra money should help with

1:52:08 > 1:52:12that. The second thing it will help is first-time buyers will have

1:52:12 > 1:52:13literally their immediate entry-level tax essentially no

1:52:13 > 1:52:20longer paid. So they will have a zero rate as they arrive on their

1:52:20 > 1:52:22property, which makes buying a home for them much cheaper and much

1:52:22 > 1:52:27quicker.Demand is not the problem, we know that people want to buy

1:52:27 > 1:52:31these houses, it is that there are not enough being built.Exactly

1:52:31 > 1:52:34right. Today you saw a commendation of two things, helping young people

1:52:34 > 1:52:44get on the property level hash Orton -- ladder. Zero centring their tax

1:52:44 > 1:52:50level as they enter in and then the issue about building more. Also

1:52:50 > 1:52:53getting one of our colleagues Oliver Letwin to look at the problem with

1:52:53 > 1:52:58the planning system and with those who have land already with planning

1:52:58 > 1:53:00approval, and many of those are housing associations, getting them

1:53:00 > 1:53:04to build copy would immediately put hundreds of thousands of more homes

1:53:04 > 1:53:08back into use and that is the really important thing, get more houses

1:53:08 > 1:53:12built.Thank you very much indeed. MPs here will be digestive and what

1:53:12 > 1:53:20has gone on in the budget at least for the next few days.

1:53:22 > 1:53:25Away from the main political action and get a sense of how it is going

1:53:25 > 1:53:29down elsewhere. Judith Moritz has been gauging reaction to the

1:53:29 > 1:53:35Chancellor's reaction in Manchester's Christmas market.

1:53:37 > 1:53:42Amongst the mulled wine and the Santa display, plenty of under

1:53:42 > 1:53:4530-year-olds have been listing to what the budget has to offer them. I

1:53:45 > 1:53:54have four of them with me. Lee, the measure to abolish damp chewed the

1:53:54 > 1:53:59first time buyers up to 300,000, is that going to help you at all, in

1:53:59 > 1:54:05terms of buying a house?Not at all. -- stamp duty. It is looking like we

1:54:05 > 1:54:11will never get a house really as it stands.The stamp duty is not the

1:54:11 > 1:54:19issue, what are the problems for you?Just the price of housing, it

1:54:19 > 1:54:22is ridiculous, especially compared to the wage. It still feels a long

1:54:22 > 1:54:26way off, what about some of the other measures? Let's say you are

1:54:26 > 1:54:30not quite 30, are you, the Railcard will be extended, the young person

1:54:30 > 1:54:42Railcard. Is that a good thing? It won't affect me much, but I can see

1:54:42 > 1:54:47it will be good for other people.I get the train a lot to see my

1:54:47 > 1:54:53family. It will be good that it is going up.Come over here and talk to

1:54:53 > 1:54:58Tom and Karen. You were telling me that this stamp duty move for you

1:54:58 > 1:55:03has come just a little too late. Yes, we recently just bought a house

1:55:03 > 1:55:12in July. We just missed on the cattle. I think our stamp duty was

1:55:12 > 1:55:20roughly £4000, if we could save that. We would be £4000 saved

1:55:20 > 1:55:24otherwise.What do you think of it as an idea, will it encourage people

1:55:24 > 1:55:27to get onto the first rung of the ladder, your friends, the people

1:55:27 > 1:55:33that you know? How many of them have been persuaded to buy houses, how

1:55:33 > 1:55:36many are able?I think most people want to get their own independent

1:55:36 > 1:55:42and buy a house and move on their own. So any sort of say from

1:55:42 > 1:55:47anything, stamp duty is quite high so it will be quite good.Carol,

1:55:47 > 1:55:52what about you, in terms of the housing ladder for the under 30s or

1:55:52 > 1:55:59for first-time buyers at least, what do you think?We always have to

1:55:59 > 1:56:06dream to be homeowners, most of my colleagues want to buy a house. It

1:56:06 > 1:56:11could stimulate the economy really because it is lower. It will help

1:56:11 > 1:56:14people move to fulfil their dreams I think there will be a good thing.

1:56:14 > 1:56:20Thank you all very we are out of time. A mixture of views, I have

1:56:20 > 1:56:25spoken to a number of people owned the age of 30. -- under the age of

1:56:25 > 1:56:3130. So many confiscated factors that prevent people from taking that

1:56:31 > 1:56:35sleep into owning their own home. There has also been a lot of

1:56:35 > 1:56:37positivity in measures on a budget which I think will make a difference

1:56:37 > 1:56:43here. Coming up at five o'clock, we will be